SG Americas Securities LLC Purchases 6,630 Shares of Parker-Hannifin Co. (NYSE:PH)

SG Americas Securities LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,011 shares of the industrial products company’s stock after buying an additional 6,630 shares during the quarter. SG Americas Securities LLC’s holdings in Parker-Hannifin were worth $18,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares during the period. FFT Wealth Management LLC grew its stake in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after buying an additional 15 shares in the last quarter. GenTrust LLC grew its stake in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after buying an additional 15 shares in the last quarter. First Manhattan CO. LLC. grew its stake in Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock valued at $1,005,000 after buying an additional 15 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in Parker-Hannifin by 1.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company’s stock valued at $689,000 after buying an additional 16 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.2%

Shares of NYSE:PH opened at $671.18 on Wednesday. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The firm has a fifty day moving average of $619.99 and a 200 day moving average of $644.99. The firm has a market capitalization of $85.76 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $6.51 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal 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 paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.07%. Parker-Hannifin’s payout ratio is currently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company’s 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 completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PH. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. KeyCorp lifted 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. Morgan Stanley began coverage on shares of Parker-Hannifin in a research note on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 price objective for the company. Citigroup reduced their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Truist Financial reduced 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. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $719.71.

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.