Tompkins Financial Corp Takes $1.47 Million Position in Parker-Hannifin Co. (NYSE:PH)

Tompkins Financial Corp acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,424 shares of the industrial products company's stock, valued at approximately $1,473,000.

A number of other hedge funds also recently made changes to their positions in PH. Brighton Jones LLC raised its position 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. Union Bancaire Privee UBP SA purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at about $32,781,000. Pacer Advisors Inc. increased its position in shares of Parker-Hannifin by 9.8% in the fourth quarter. Pacer Advisors Inc. now owns 10,458 shares of the industrial products company's stock valued at $6,652,000 after acquiring an additional 936 shares during the period. Foundations Investment Advisors LLC increased its position in shares of Parker-Hannifin by 2.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 1,515 shares of the industrial products company's stock valued at $963,000 after acquiring an additional 33 shares during the period. Finally, Perigon Wealth Management LLC increased its position in shares of Parker-Hannifin by 8.8% in the fourth quarter. Perigon Wealth Management LLC now owns 805 shares of the industrial products company's stock valued at $530,000 after acquiring an additional 65 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Barclays decreased their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Truist Financial reduced their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $718.44.

Parker-Hannifin Stock Down 0.5%

Shares of PH traded down $3.38 during mid-day trading on Friday, hitting $663.85. The company's stock had a trading volume of 1,042,542 shares, compared to its average volume of 716,134. The company's 50-day moving average is $612.05 and its 200-day moving average is $646.47. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The firm has a market capitalization of $84.83 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 2.85 and a beta of 1.36. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results 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. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the company earned $6.51 EPS. The company's revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be 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 is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president now owns 2,083 shares of the company's stock, 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 document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.