International Assets Investment Management LLC Purchases 224 Shares of Parker-Hannifin Corporation (NYSE:PH)

International Assets Investment Management LLC grew its position in Parker-Hannifin Corporation (NYSE:PH) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,128 shares of the industrial products company’s stock after acquiring an additional 224 shares during the period. International Assets Investment Management LLC’s holdings in Parker-Hannifin were worth $686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. raised its position in Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PH shares. Morgan Stanley started coverage on Parker-Hannifin in a research note on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 target price for the company. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Barclays dropped their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. KeyCorp raised their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Truist Financial reduced their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $719.71.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was 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. The trade was 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. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 0.1%

PH opened at $674.34 on Thursday. The firm’s fifty day simple moving average is $643.31 and its 200 day simple moving average is $642.43. The stock has a market capitalization of $86.17 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.15 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 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.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.51 EPS. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 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.