Thurston Springer Miller Herd & Titak Inc. Purchases 553 Shares of Parker-Hannifin Co. (NYSE:PH)

Thurston Springer Miller Herd & Titak Inc. boosted its position in Parker-Hannifin Co. (NYSE:PH) by 25.9% during the first quarter, Holdings Channel reports. The fund owned 2,688 shares of the industrial products company’s stock after acquiring an additional 553 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Parker-Hannifin were worth $1,634,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its position in Parker-Hannifin by 2.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 7,081 shares of the industrial products company’s stock valued at $4,304,000 after buying an additional 146 shares during the period. Crestmont Private Wealth LLC boosted its position in Parker-Hannifin by 7.4% during the first quarter. Crestmont Private Wealth LLC now owns 565 shares of the industrial products company’s stock valued at $343,000 after buying an additional 39 shares during the period. Unigestion Holding SA boosted its position in Parker-Hannifin by 146.6% during the first quarter. Unigestion Holding SA now owns 6,049 shares of the industrial products company’s stock valued at $3,677,000 after buying an additional 3,596 shares during the period. Whipplewood Advisors LLC boosted its position in Parker-Hannifin by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 104 shares of the industrial products company’s stock valued at $63,000 after buying an additional 65 shares during the period. Finally, Merit Financial Group LLC boosted its position in Parker-Hannifin by 16.4% during the first quarter. Merit Financial Group LLC now owns 4,124 shares of the industrial products company’s stock valued at $2,507,000 after buying an additional 580 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on PH shares. KeyCorp upped their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. 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 research report on Thursday, April 10th. Evercore ISI increased their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a report on Monday. Finally, Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $720.94.

Parker-Hannifin Stock Performance

Shares of PH opened at $665.79 on Thursday. 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 one year low of $488.45 and a one year high of $718.44. The company has a 50-day simple moving average of $614.58 and a two-hundred day simple moving average of $646.11. The firm has a market capitalization of $85.07 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH) 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 net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the business posted $6.51 earnings per share. Parker-Hannifin’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 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 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. 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. This represents a $7.20 annualized dividend and a yield of 1.08%. Parker-Hannifin’s dividend payout ratio (DPR) is 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.