Parker-Hannifin Corporation (NYSE:PH) Shares Bought by Park Place Capital Corp

Park Place Capital Corp grew its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271 shares of the industrial products company’s stock after purchasing an additional 38 shares during the period. Park Place Capital Corp’s holdings in Parker-Hannifin were worth $165,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PH. Norges Bank purchased a new position in shares of Parker-Hannifin during the 4th quarter worth about $1,106,132,000. GAMMA Investing LLC raised its holdings in Parker-Hannifin by 66,111.8% in the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after buying an additional 1,732,791 shares during the period. Royal Bank of Canada raised its holdings in 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 buying an additional 1,137,564 shares during the period. Capital World Investors purchased a new position in Parker-Hannifin in the fourth quarter valued at approximately $418,174,000. Finally, OMERS ADMINISTRATION Corp grew its position in Parker-Hannifin by 6,912.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company’s stock valued at $198,742,000 after acquiring an additional 308,016 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction 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 directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $700.97 on Friday. The company has a market cap of $89.57 billion, a PE ratio of 26.99, a P/E/G ratio of 3.22 and a beta of 1.34. The company has a fifty day moving average price of $648.74 and a two-hundred day moving average price of $642.64. 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 released its quarterly earnings data 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. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.51 earnings per share. Research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share 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 represents a $7.20 dividend on an annualized basis and a yield of 1.03%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analyst Weigh In

PH has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a research report on Monday, June 2nd. Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 price objective for the company. Truist Financial decreased their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Finally, Evercore ISI raised their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price 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.