Parker-Hannifin Corporation (NYSE:PH) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,336 shares of the industrial products company's stock after buying an additional 415 shares during the quarter. Wealthfront Advisers LLC's holdings in Parker-Hannifin were worth $7,498,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PH. Brighton Jones LLC raised its position in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after buying an additional 101 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Parker-Hannifin by 0.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock worth $4,617,000 after purchasing an additional 55 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Parker-Hannifin by 83.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,793 shares of the industrial products company's stock worth $1,140,000 after purchasing an additional 814 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Parker-Hannifin by 45.2% during the 4th quarter. Advisors Asset Management Inc. now owns 11,232 shares of the industrial products company's stock worth $7,144,000 after purchasing an additional 3,499 shares during the period. Finally, Horizon Investments LLC grew its stake in shares of Parker-Hannifin by 1.4% during the 4th quarter. Horizon Investments LLC now owns 2,115 shares of the industrial products company's stock worth $1,342,000 after purchasing an additional 30 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $670.00 to $709.00 and gave the company a "hold" rating in a research note on Friday, July 11th. Argus set a $680.00 price target on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Barclays lifted their price target on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $739.12.

Parker-Hannifin Trading Up 1.9%

Shares of NYSE PH traded up $13.25 during trading on Thursday, hitting $723.47. 543,083 shares of the company were exchanged, compared to its average volume of 688,612. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $743.22. 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 company has a fifty day moving average price of $677.83 and a 200-day moving average price of $647.31. The firm has a market capitalization of $92.45 billion, a PE ratio of 27.86, a P/E/G ratio of 3.05 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.51 EPS. As a group, equities research analysts expect 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 dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio is presently 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.