Parker-Hannifin Corporation (NYSE:PH) Shares Purchased by Dupont Capital Management Corp

Dupont Capital Management Corp raised its stake in Parker-Hannifin Corporation (NYSE:PH) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,553 shares of the industrial products company’s stock after purchasing an additional 1,430 shares during the quarter. Parker-Hannifin comprises about 1.4% of Dupont Capital Management Corp’s investment portfolio, making the stock its 21st biggest position. Dupont Capital Management Corp’s holdings in Parker-Hannifin were worth $12,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of PH. Vanguard Group Inc. lifted its position in 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 worth $6,903,962,000 after acquiring an additional 111,406 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Parker-Hannifin by 3.9% during the fourth 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 purchasing an additional 99,261 shares during the period. Invesco Ltd. lifted its position in shares of Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after purchasing an additional 198,292 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Parker-Hannifin by 99.8% in the fourth 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 purchasing an additional 1,137,564 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Parker-Hannifin by 9.3% in the fourth 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 purchasing an additional 172,064 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several analyst reports. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Stifel Nicolaus increased their price target on Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Finally, Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Five 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 a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the business’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 approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

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

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

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a $1.80 dividend. This is an increase 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%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s payout ratio is presently 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.