Strategic Investment Advisors MI Acquires 96 Shares of Parker-Hannifin Corporation (NYSE:PH)

Strategic Investment Advisors MI boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,664 shares of the industrial products company’s stock after purchasing an additional 96 shares during the period. Strategic Investment Advisors MI’s holdings in Parker-Hannifin were worth $1,011,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FFT Wealth Management LLC lifted its stake in Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 15 shares during the last quarter. GenTrust LLC lifted its stake in Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the last quarter. First Manhattan CO. LLC. lifted its stake in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Parker-Hannifin by 1.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company’s stock worth $689,000 after purchasing an additional 16 shares during the last quarter. Finally, Becker Capital Management Inc. lifted its stake in Parker-Hannifin by 3.4% during the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several research analyst reports. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus upped their price target 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. Finally, Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $719.71.

Parker-Hannifin Stock Performance

NYSE PH opened at $675.64 on Wednesday. The company has a market capitalization of $86.33 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 3.10 and a beta of 1.34. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $718.44. The stock has a fifty day simple moving average of $641.02 and a 200 day simple moving average of $642.21. 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $6.51 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts expect that Parker-Hannifin Corporation 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. Shareholders of record on Friday, May 9th were issued a dividend of $1.80 per share. 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 1.07%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

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.