Running Oak Capital LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,263 shares of the industrial products company's stock after purchasing an additional 1,769 shares during the quarter. Running Oak Capital LLC's holdings in Parker-Hannifin were worth $15,356,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock worth $6,903,962,000 after acquiring an additional 111,406 shares during the last quarter. Geode Capital Management LLC raised its holdings in Parker-Hannifin by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after buying an additional 99,261 shares during the period. Invesco Ltd. lifted its position in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after buying an additional 198,292 shares in the last quarter. Royal Bank of Canada grew its stake in 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 buying an additional 1,137,564 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Parker-Hannifin by 9.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock worth $1,282,294,000 after acquiring an additional 172,064 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Stock Performance
PH stock traded up $0.54 during mid-day trading on Monday, reaching $653.27. The company had a trading volume of 180,510 shares, compared to its average volume of 783,871. The stock has a market capitalization of $83.47 billion, a P/E ratio of 25.16, a P/E/G ratio of 3.04 and a beta of 1.34. The stock's 50-day simple moving average is $636.98 and its two-hundred day simple moving average is $642.20. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $718.44. 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 (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 company 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 posted $6.51 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.
Parker-Hannifin Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.10%. Parker-Hannifin's payout ratio is presently 27.72%.
Analysts Set New Price Targets
Several brokerages recently issued reports on PH. Barclays lowered 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. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Citigroup decreased their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Mizuho set a $785.00 price objective on Parker-Hannifin in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.
View Our Latest Stock Analysis on Parker-Hannifin
Insider Transactions at Parker-Hannifin
In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin 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 transaction, the vice president now owns 2,083 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company's stock.
About Parker-Hannifin
(
Free Report)
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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