Cooper Financial Group Has $504,000 Stock Position in Parker-Hannifin Co. (NYSE:PH)

Cooper Financial Group cut its position in Parker-Hannifin Co. (NYSE:PHFree Report) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 906 shares of the industrial products company’s stock after selling 30 shares during the quarter. Cooper Financial Group’s holdings in Parker-Hannifin were worth $504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sachetta LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the fourth quarter valued at about $26,000. First United Bank & Trust acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PH. Wells Fargo & Company reduced their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. KeyCorp upped their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Argus increased their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $566.33.

Read Our Latest Research Report on PH

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $3.83 during midday trading on Friday, reaching $504.16. The company had a trading volume of 886,938 shares, compared to its average volume of 715,431. The stock has a fifty day simple moving average of $534.48 and a 200 day simple moving average of $513.28. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $570.15. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $64.80 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46.

Parker-Hannifin (NYSE:PHGet Free Report) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.93 earnings per share. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 24.84 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 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.29%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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