Parker-Hannifin Corporation (NYSE:PH) Position Increased by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,481 shares of the industrial products company's stock after buying an additional 1,258 shares during the quarter. Parker-Hannifin comprises approximately 1.6% of Wilkinson Global Asset Management LLC's portfolio, making the stock its 23rd biggest holding. Wilkinson Global Asset Management LLC's holdings in Parker-Hannifin were worth $25,214,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $1,106,132,000. GAMMA Investing LLC raised its holdings in shares of Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares during the period. Royal Bank of Canada lifted its stake in shares of Parker-Hannifin by 99.8% in the 4th 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 purchasing an additional 1,137,564 shares in the last quarter. Capital World Investors purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $418,174,000. Finally, OMERS ADMINISTRATION Corp increased its position in Parker-Hannifin by 6,912.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on 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 transaction, the vice president owned 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Up 0.1%

Shares of PH stock traded up $0.83 during mid-day trading on Friday, reaching $715.13. 340,176 shares of the company were exchanged, compared to its average volume of 695,545. 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 business's 50 day simple moving average is $672.33 and its 200 day simple moving average is $646.00. The company has a market capitalization of $91.38 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.07 and a beta of 1.34. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $720.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $6.51 EPS. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given 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 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Wells Fargo & Company upped 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. Evercore ISI raised their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $726.12.

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.