Ritholtz Wealth Management Has $1.23 Million Position in Parker-Hannifin Corporation (NYSE:PH)

Ritholtz Wealth Management increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 33.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,027 shares of the industrial products company's stock after purchasing an additional 513 shares during the period. Ritholtz Wealth Management's holdings in Parker-Hannifin were worth $1,232,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PH. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at about $32,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Morgan Stanley started coverage on shares of Parker-Hannifin in a report on Thursday, June 5th. They set an "equal weight" rating and a $700.00 price objective on the stock. Finally, Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Price Performance

Shares of PH stock traded up $0.24 during midday trading on Wednesday, reaching $652.45. 478,188 shares of the company were exchanged, compared to its average volume of 702,453. The company's 50 day moving average price is $632.27 and its two-hundred day moving average price is $643.55. The company has a market cap of $83.37 billion, a P/E ratio of 25.12, a PEG ratio of 3.09 and a beta of 1.34. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 earnings per share. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

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

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated 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. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company's stock.

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.