Stratos Wealth Partners LTD. Has $12.42 Million Holdings in Parker-Hannifin Corporation (NYSE:PH)

Stratos Wealth Partners LTD. lifted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,428 shares of the industrial products company's stock after buying an additional 888 shares during the period. Stratos Wealth Partners LTD.'s holdings in Parker-Hannifin were worth $12,417,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after purchasing an additional 101 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Parker-Hannifin by 0.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock worth $4,617,000 after purchasing an additional 55 shares during the period. SBI Securities Co. Ltd. acquired a new position in Parker-Hannifin in the 4th quarter worth $49,000. Proficio Capital Partners LLC boosted its stake in Parker-Hannifin by 83.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,793 shares of the industrial products company's stock worth $1,140,000 after purchasing an additional 814 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in Parker-Hannifin by 76.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 118 shares of the industrial products company's stock worth $75,000 after purchasing an additional 51 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were 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 represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PH. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $719.41.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $0.81 during midday trading on Tuesday, hitting $707.40. 493,603 shares of the company were exchanged, compared to its average volume of 697,548. The firm has a market capitalization of $90.39 billion, a P/E ratio of 27.24, a PEG ratio of 3.10 and a beta of 1.34. 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 Corporation has a 52 week low of $488.45 and a 52 week high of $720.90. The firm's 50 day moving average price is $664.18 and its two-hundred day moving average price is $644.27.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate 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%. The firm'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 earned $6.51 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a dividend of $1.80 per share. The ex-dividend date was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.02%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

About Parker-Hannifin

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.