Janney Montgomery Scott LLC Makes New $16.82 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Janney Montgomery Scott LLC bought a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,510 shares of the industrial products company's stock, valued at approximately $16,820,000.

A number of other hedge funds also recently added to or reduced their stakes in PH. OFI Invest Asset Management acquired a new position in shares of Parker-Hannifin during the third quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $26,000. First United Bank & Trust bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $29,000. Cherry Tree Wealth Management LLC raised its holdings in Parker-Hannifin by 44.6% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 81 shares of the industrial products company's stock worth $37,000 after purchasing an additional 25 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth approximately $42,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America upped their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the company a "buy" rating in a report on Friday. Mizuho boosted their target price on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a "neutral" rating in a report on Friday, May 3rd. Argus raised their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a "buy" rating in a report on Monday, May 6th. TD Cowen raised Parker-Hannifin from an "underperform" rating to a "market perform" rating and upped their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $560.20.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company's stock, valued at $609,989.13. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jay Reidy sold 572 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Stock Up 1.0 %

Shares of Parker-Hannifin stock traded up $5.62 during trading on Friday, hitting $545.11. 817,425 shares of the stock traded hands, compared to its average volume of 607,908. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock has a market cap of $70.07 billion, a P/E ratio of 25.43, a PEG ratio of 1.90 and a beta of 1.51. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15. The company has a fifty day moving average price of $548.37 and a two-hundred day moving average price of $493.72.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.93 EPS. Equities research analysts predict that Parker-Hannifin Co. will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.48. Parker-Hannifin's dividend payout ratio (DPR) is presently 30.73%.

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.