Thurston Springer Miller Herd & Titak Inc. Purchases 553 Shares of Parker-Hannifin Co. (NYSE:PH)

Thurston Springer Miller Herd & Titak Inc. grew its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 25.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,688 shares of the industrial products company's stock after purchasing an additional 553 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Parker-Hannifin were worth $1,634,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PH. Congress Asset Management Co. grew its holdings in Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after acquiring an additional 25,605 shares during the period. HUB Investment Partners LLC boosted its position in shares of Parker-Hannifin by 15.7% during the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock valued at $4,960,000 after purchasing an additional 1,057 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in Parker-Hannifin by 67.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company's stock worth $29,135,000 after purchasing an additional 18,503 shares during the period. Washington Trust Bank lifted its stake in Parker-Hannifin by 3,019.5% in the fourth quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company's stock valued at $9,881,000 after buying an additional 15,037 shares during the period. Finally, Ascent Wealth Partners LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $1,216,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.5%

Shares of NYSE PH traded up $10.05 during trading on Friday, hitting $672.02. The stock had a trading volume of 387,695 shares, compared to its average volume of 711,186. The firm has a fifty day moving average of $615.65 and a two-hundred day moving average of $645.90. The company has a market capitalization of $85.87 billion, a PE ratio of 27.82, a PEG ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. 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 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. 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 during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the firm posted $6.51 EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

Insiders Place Their Bets

In related 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 transaction of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PH. Truist Financial lowered 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. Morgan Stanley assumed coverage on shares of Parker-Hannifin in a research note on Thursday. They issued an "equal weight" rating and a $700.00 price target for the company. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Stifel Nicolaus boosted their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday. Finally, Evercore ISI upped their price target 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 research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Company 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.