Parker-Hannifin Co. (NYSE:PH) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% in the first quarter, Holdings Channel reports. The firm owned 246,207 shares of the industrial products company’s stock after purchasing an additional 4,720 shares during the period. Rhumbline Advisers’ holdings in Parker-Hannifin were worth $149,657,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. KeyCorp upped their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $718.44.

Parker-Hannifin Price Performance

NYSE PH opened at $663.85 on Monday. The company has a 50 day simple moving average of $612.05 and a 200-day simple moving average of $646.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market capitalization of $84.83 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company posted $6.51 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal 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 1.08%. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Insider Buying and Selling at Parker-Hannifin

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

Parker-Hannifin Company 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.