Revolve Wealth Partners LLC Invests $242,000 in Parker-Hannifin Co. (NYSE:PH)

Revolve Wealth Partners LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 398 shares of the industrial products company's stock, valued at approximately $242,000.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $1,106,132,000. GAMMA Investing LLC grew its stake in shares of Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after purchasing an additional 1,732,791 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. Royal Bank of Canada raised its stake in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the last quarter. Finally, Capital World Investors purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $418,174,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction 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 owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PH shares. KeyCorp lifted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Citigroup reduced 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. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded down $5.50 during trading hours on Thursday, reaching $666.25. 493,225 shares of the stock were exchanged, compared to its average volume of 707,810. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a market cap of $85.13 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The stock has a 50 day moving average of $623.09 and a two-hundred day moving average of $645.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its 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. The firm had revenue of $4.96 billion for 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%. The company's revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.51 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is 27.72%.

Parker-Hannifin 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.