Franklin Street Advisors Inc. NC Acquires 459 Shares of Parker-Hannifin Co. (NYSE:PH)

Franklin Street Advisors Inc. NC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,734 shares of the industrial products company’s stock after acquiring an additional 459 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Parker-Hannifin were worth $10,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after acquiring an additional 111,406 shares during the period. Geode Capital Management LLC grew its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock valued at $1,699,580,000 after acquiring an additional 99,261 shares during the period. Invesco Ltd. grew its position in shares of Parker-Hannifin by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock valued at $1,591,810,000 after acquiring an additional 198,292 shares during the period. Royal Bank of Canada grew its position in shares of Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after acquiring an additional 1,137,564 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Parker-Hannifin by 9.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock valued at $1,282,294,000 after acquiring an additional 172,064 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $671.18 on Wednesday. The company has a market cap of $85.76 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. 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 company has a 50 day moving average of $619.99 and a two-hundred day moving average of $644.99.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $6.51 earnings per share. As a group, 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 was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

Insiders Place Their Bets

In related news, VP Jay Reidy sold 150 shares of the firm’s 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 completion of the transaction, the vice president now 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 sale 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.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Barclays dropped their target price 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. Stifel Nicolaus upped 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, June 2nd. Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Finally, Citigroup reduced their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $719.71.

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.