CVA Family Office LLC Acquires 19 Shares of Parker-Hannifin Co. (NYSE:PH)

CVA Family Office LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 469 shares of the industrial products company’s stock after purchasing an additional 19 shares during the quarter. CVA Family Office LLC’s holdings in Parker-Hannifin were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elevation Point Wealth Partners LLC lifted its holdings in shares of Parker-Hannifin by 2.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,014 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 26 shares in the last quarter. West Branch Capital LLC lifted its holdings in Parker-Hannifin by 442.5% in the first quarter. West Branch Capital LLC now owns 217 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 177 shares during the period. Howard Capital Management Group LLC boosted its position in Parker-Hannifin by 2.2% in the first quarter. Howard Capital Management Group LLC now owns 37,566 shares of the industrial products company’s stock worth $22,834,000 after purchasing an additional 791 shares during the last quarter. Bar Harbor Wealth Management boosted its position in Parker-Hannifin by 2.2% in the first quarter. Bar Harbor Wealth Management now owns 21,949 shares of the industrial products company’s stock worth $13,342,000 after purchasing an additional 479 shares during the last quarter. Finally, Liberty Capital Management Inc. purchased a new position in Parker-Hannifin in the first quarter worth about $272,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 2.0%

PH stock opened at $653.73 on Friday. The business’s 50-day moving average price is $628.39 and its 200-day moving average price is $644.16. 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 stock has a market cap of $83.53 billion, a P/E ratio of 27.06, a PEG ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results 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 company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the firm earned $6.51 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared 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 of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin’s payout ratio is currently 27.72%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin 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 sale, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PH shares. Citigroup dropped their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Morgan Stanley started coverage on Parker-Hannifin in a research report on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 target price on the stock. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target 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.