Parker-Hannifin Corporation (NYSE:PH) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,370 shares of the industrial products company's stock after purchasing an additional 1,473 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Parker-Hannifin were worth $8,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PH. Sterling Investment Counsel LLC grew its holdings in Parker-Hannifin by 175.3% in the 1st quarter. Sterling Investment Counsel LLC now owns 1,396 shares of the industrial products company's stock valued at $849,000 after buying an additional 889 shares during the period. Premier Path Wealth Partners LLC grew its holdings in Parker-Hannifin by 1.8% in the 1st quarter. Premier Path Wealth Partners LLC now owns 1,894 shares of the industrial products company's stock valued at $1,151,000 after buying an additional 34 shares during the period. Friedenthal Financial purchased a new stake in Parker-Hannifin in the 1st quarter valued at about $928,000. State of Alaska Department of Revenue grew its holdings in Parker-Hannifin by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 15,080 shares of the industrial products company's stock valued at $9,166,000 after buying an additional 405 shares during the period. Finally, CWA Asset Management Group LLC grew its holdings in Parker-Hannifin by 11.8% in the 1st quarter. CWA Asset Management Group LLC now owns 491 shares of the industrial products company's stock valued at $298,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial lowered their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Evercore ISI boosted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Barclays decreased their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, Citigroup decreased their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Stock Up 0.0%

NYSE PH opened at $652.45 on Friday. The stock has a market cap of $83.37 billion, a PE ratio of 25.12, a P/E/G ratio of 3.04 and a beta of 1.34. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The business has a 50 day moving average price of $635.24 and a two-hundred day moving average price of $643.27. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the business earned $6.51 EPS. Parker-Hannifin's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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