Parr Mcknight Wealth Management Group LLC Makes New $3.58 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Parr Mcknight Wealth Management Group LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,631 shares of the industrial products company's stock, valued at approximately $3,581,000.

A number of other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $40,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now 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 Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PH shares. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. UBS Group decreased their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Citigroup lowered their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average target price of $718.44.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $656.49 on Friday. The firm has a market cap of $83.88 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock's fifty day moving average price is $608.22 and its two-hundred day moving average price is $648.10. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.51 earnings per share. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

About Parker-Hannifin

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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