Parker-Hannifin Corporation (NYSE:PH) Shares Purchased by Running Oak Capital LLC

Running Oak Capital LLC raised its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,263 shares of the industrial products company's stock after buying an additional 1,769 shares during the quarter. Running Oak Capital LLC's holdings in Parker-Hannifin were worth $15,356,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the firm'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 owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

PH stock traded down $0.91 during midday trading on Wednesday, hitting $674.34. 484,044 shares of the stock traded hands, compared to its average volume of 701,326. The stock's fifty day simple moving average is $641.02 and its 200-day simple moving average is $642.21. The firm has a market cap of $86.17 billion, a P/E ratio of 25.97, a PEG ratio of 3.15 and a beta of 1.34. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.07%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Analyst Upgrades and Downgrades

PH has been the subject of several research reports. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 16th. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. KeyCorp boosted 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. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Finally, Truist Financial decreased their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $719.71.

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.