Aspire Private Capital LLC Has $1.11 Million Stock Holdings in Parker-Hannifin Corporation (NYSE:PH)

Aspire Private Capital LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 25.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,820 shares of the industrial products company’s stock after selling 624 shares during the period. Aspire Private Capital LLC’s holdings in Parker-Hannifin were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PH. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction 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 sale, the vice president now directly owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

PH stock opened at $651.73 on Friday. The firm has a market cap of $83.28 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 3.04 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $718.44. The company’s fifty day simple moving average is $636.98 and its 200 day simple moving average is $642.93.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. Parker-Hannifin’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.51 earnings per share. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a $1.80 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.10%. Parker-Hannifin’s payout ratio is presently 27.72%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Barclays decreased their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research lowered shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, Evercore ISI lifted their price target 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. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $719.71.

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.