Port Capital LLC Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Port Capital LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,103 shares of the industrial products company's stock after purchasing an additional 619 shares during the quarter. Parker-Hannifin makes up approximately 1.9% of Port Capital LLC's portfolio, making the stock its 22nd biggest position. Port Capital LLC owned approximately 0.05% of Parker-Hannifin worth $42,680,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PH. Howard Capital Management Group LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC increased its stake in Parker-Hannifin by 752.5% in the 4th 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 period. Columbus Macro LLC increased its stake in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares during the period. Congress Asset Management Co. boosted its holdings in Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after purchasing an additional 25,605 shares in the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in shares of Parker-Hannifin by 15.7% in the 4th 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 period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $675.26 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm's 50-day moving average price is $600.70 and its two-hundred day moving average price is $646.37. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The stock has a market capitalization of $86.28 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (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 the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $6.51 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin's payout ratio is currently 27.72%.

Analysts Set New Price Targets

Several research firms have weighed in on PH. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $710.12.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company's stock.

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.

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