TD Private Client Wealth LLC Grows Stock Holdings in Parker-Hannifin Corporation (NYSE:PH)

TD Private Client Wealth LLC grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 181.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,972 shares of the industrial products company's stock after purchasing an additional 2,559 shares during the quarter. TD Private Client Wealth LLC's holdings in Parker-Hannifin were worth $2,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. First Manhattan CO. LLC. grew its stake in shares of Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Parker-Hannifin by 1.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock valued at $689,000 after buying an additional 16 shares during the last quarter. Becker Capital Management Inc. raised its stake in Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 16 shares during the last quarter. Northwest Wealth Management LLC increased its holdings in Parker-Hannifin by 3.0% in the 4th quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company's stock valued at $367,000 after buying an additional 17 shares during the period. Finally, Citizens National Bank Trust Department increased its holdings in Parker-Hannifin by 8.5% in the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after buying an additional 17 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday. Truist Financial lowered their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays lifted their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $723.82.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $8.19 on Thursday, hitting $715.78. 239,177 shares of the company traded hands, compared to its average volume of 696,636. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $720.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The business has a 50-day simple moving average of $668.34 and a 200 day simple moving average of $645.14. The stock has a market capitalization of $91.46 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 3.04 and a beta of 1.34.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.01%. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's 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 approximately $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 can be accessed through the SEC website. Insiders own 0.39% of the company's stock.

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.