Bar Harbor Wealth Management Has $13.34 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Bar Harbor Wealth Management grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,949 shares of the industrial products company’s stock after purchasing an additional 479 shares during the period. Bar Harbor Wealth Management’s holdings in Parker-Hannifin were worth $13,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Congress Asset Management Co. raised its holdings in shares of 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 worth $121,292,000 after acquiring an additional 25,605 shares during the last quarter. HUB Investment Partners LLC increased its holdings in Parker-Hannifin by 15.7% during the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after purchasing an additional 1,057 shares in the last quarter. Congress Wealth Management LLC DE raised its stake in shares of Parker-Hannifin by 67.8% in the fourth quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company’s stock worth $29,135,000 after purchasing an additional 18,503 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Parker-Hannifin by 3,019.5% in the fourth quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock valued at $9,881,000 after purchasing an additional 15,037 shares in the last quarter. Finally, Ascent Wealth Partners LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,216,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.8%

Parker-Hannifin stock opened at $666.25 on Friday. The firm has a 50 day moving average price of $625.79 and a 200-day moving average price of $644.91. 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 twelve month low of $488.45 and a twelve month high of $718.44. The company has a market capitalization of $85.13 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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 business had revenue of $4.96 billion during 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%. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.51 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors 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 annualized dividend and a yield of 1.08%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Insider Buying and Selling

In related 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 value of $93,055.50. Following the completion of the transaction, the vice president now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Evercore ISI raised their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. KeyCorp boosted their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $719.71.

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.