Vaughan Nelson Investment Management L.P. Acquires Shares of 20,555 Parker-Hannifin Co. (NYSE:PH)

Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,555 shares of the industrial products company's stock, valued at approximately $12,495,000.

Several other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $1,106,132,000. GAMMA Investing LLC raised its stake in shares of Parker-Hannifin by 66,111.8% in the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after acquiring an additional 1,139,265 shares during the period. Royal Bank of Canada raised its stake in shares of Parker-Hannifin by 99.8% in 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, Capital World Investors purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $418,174,000. Institutional investors own 82.44% of the company's stock.

Insider Activity

In other 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 sale, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PH. Truist Financial reduced their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. KeyCorp raised their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Barclays reduced their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Stock Down 2.0%

Shares of Parker-Hannifin stock opened at $653.73 on Monday. 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 1 year low of $488.45 and a 1 year high of $718.44. The firm's 50-day moving average is $628.39 and its two-hundred day moving average is $643.77. The stock has a market cap of $83.53 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) 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 company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the business earned $6.51 EPS. The firm's quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

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.

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