TD Private Client Wealth LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 181.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after buying an additional 111,406 shares in the last quarter. Geode Capital Management LLC raised its holdings in Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after purchasing an additional 99,261 shares during the last quarter. Invesco Ltd. grew its position in shares of Parker-Hannifin by 8.6% in 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 purchasing an additional 198,292 shares during the period. Royal Bank of Canada grew its position 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 valued at $1,448,241,000 after acquiring an additional 1,137,564 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted 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 buying an additional 172,064 shares during the period. 82.44% of the stock is currently owned by institutional investors.
Parker-Hannifin Stock Performance
Parker-Hannifin stock traded up $0.83 during trading on Friday, hitting $715.13. The stock had a trading volume of 340,176 shares, compared to its average volume of 695,966. The stock has a market cap of $91.38 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.07 and a beta of 1.34. The stock's 50 day moving average is $672.33 and its two-hundred day moving average is $646.05. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $720.90. 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 issued its quarterly earnings data 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. 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 was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.51 earnings per share. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.
Parker-Hannifin Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.01%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.
Insider Activity
In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm's 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 completion of the sale, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on PH shares. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Barclays boosted their target price on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday. Stifel Nicolaus increased their price target on Parker-Hannifin from $670.00 to $709.00 and gave the company a "hold" rating in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $726.12.
Check Out Our Latest Stock Report on Parker-Hannifin
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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