Parker-Hannifin Co. (NYSE:PH) Shares Bought by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 10,339.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,000 shares of the industrial products company's stock after acquiring an additional 18,818 shares during the quarter. Parker-Hannifin comprises about 1.4% of SOA Wealth Advisors LLC.'s investment portfolio, making the stock its 14th biggest position. SOA Wealth Advisors LLC.'s holdings in Parker-Hannifin were worth $11,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PH. Norges Bank acquired a new stake in Parker-Hannifin in the fourth quarter worth about $1,106,132,000. GAMMA Investing LLC raised its position in Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares in the last quarter. Proficio Capital Partners LLC grew its position in Parker-Hannifin by 116,370.3% during 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 buying an additional 1,139,265 shares during the period. Royal Bank of Canada grew its holdings in Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. Finally, Capital World Investors purchased a new stake in Parker-Hannifin in the 4th quarter worth $418,174,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

NYSE:PH traded down $1.40 during midday trading on Monday, reaching $669.86. The stock had a trading volume of 475,387 shares, compared to its average volume of 710,748. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $85.59 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.85 and a beta of 1.34. The firm has a fifty day simple moving average of $616.90 and a two-hundred day simple moving average of $645.07. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

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. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business posted $6.51 earnings per share. The business's revenue was down 2.2% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

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

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Citigroup decreased 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. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. KeyCorp increased their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $719.71.

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.