NorthRock Partners LLC Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

NorthRock Partners LLC increased its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 184.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,574 shares of the industrial products company's stock after purchasing an additional 1,020 shares during the quarter. NorthRock Partners LLC's holdings in Parker-Hannifin were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Howard Capital Management Group LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $23,390,000. SG Americas Securities LLC raised its stake in Parker-Hannifin by 752.5% during the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC raised its stake in Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after buying an additional 8,914 shares during the last quarter. Congress Asset Management Co. raised its stake in Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in Parker-Hannifin by 15.7% during the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock valued at $4,960,000 after buying an additional 1,057 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was 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 of the company's stock, valued at approximately $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 accessible through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial lowered their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. KeyCorp lifted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company lifted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Barclays reduced their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $713.88.

Parker-Hannifin Stock Performance

Shares of PH traded up $8.31 during trading hours on Friday, hitting $680.95. The stock had a trading volume of 458,022 shares, compared to its average volume of 719,147. 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. The firm has a market capitalization of $87.01 billion, a PE ratio of 28.19, a PEG ratio of 2.85 and a beta of 1.36. The stock has a fifty day moving average price of $603.37 and a 200 day moving average price of $647.24.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 earnings per share. Parker-Hannifin's revenue was down 2.2% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio 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.