Ethic Inc. Increases Position in Parker-Hannifin Co. (NYSE:PH)

Ethic Inc. lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,647 shares of the industrial products company's stock after buying an additional 1,105 shares during the period. Ethic Inc.'s holdings in Parker-Hannifin were worth $7,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWA Asset Management Group LLC grew its position in Parker-Hannifin by 26.1% in the fourth quarter. CWA Asset Management Group LLC now owns 439 shares of the industrial products company's stock valued at $279,000 after acquiring an additional 91 shares in the last quarter. Diversified Trust Co boosted its position in shares of Parker-Hannifin by 4.0% during the 4th quarter. Diversified Trust Co now owns 1,017 shares of the industrial products company's stock valued at $647,000 after purchasing an additional 39 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at $298,000. Fortitude Family Office LLC increased its holdings in shares of Parker-Hannifin by 40.7% during the 4th quarter. Fortitude Family Office LLC now owns 204 shares of the industrial products company's stock valued at $130,000 after acquiring an additional 59 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Parker-Hannifin by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,866 shares of the industrial products company's stock valued at $17,606,000 after acquiring an additional 113 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.5%

Shares of NYSE PH traded up $9.78 during trading hours on Tuesday, hitting $678.54. The company had a trading volume of 775,656 shares, compared to its average volume of 723,694. The stock has a market capitalization of $86.70 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. 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 $598.95 and its 200-day moving average is $645.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm 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 27.34% and a net margin of 15.87%. The company's revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.51 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is 27.72%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This trade represents 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 this hyperlink. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PH shares. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Evercore ISI upped their price objective on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Citigroup decreased their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Barclays dropped their price objective 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $710.12.

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.