Stratos Investment Management LLC Invests $414,000 in Parker-Hannifin Corporation (NYSE:PH)

Stratos Investment Management LLC acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 680 shares of the industrial products company's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds have also modified their holdings of PH. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC bought a new stake in Parker-Hannifin in the 1st quarter valued at approximately $35,000. Finally, Chilton Capital Management LLC lifted its stake in Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 60 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the topic of several research reports. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Barclays upped their price objective on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Evercore ISI upped their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $726.12.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president owned 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $0.83 during trading on Friday, reaching $715.13. 340,176 shares of the company's stock were exchanged, compared to its average volume of 695,966. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $91.38 billion, a PE ratio of 27.54, a PEG ratio of 3.07 and a beta of 1.34. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $720.90. The firm's fifty day moving average price is $672.33 and its 200-day moving average price is $646.05.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 26.80% and a net margin of 17.14%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $6.51 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company 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. 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 yield of 1.01%. Parker-Hannifin's dividend payout ratio (DPR) is presently 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.