Yousif Capital Management LLC Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Yousif Capital Management LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 0.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,375 shares of the industrial products company’s stock after purchasing an additional 33 shares during the period. Yousif Capital Management LLC’s holdings in Parker-Hannifin were worth $9,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Parker-Hannifin in the fourth quarter valued at about $32,781,000. Kingsview Wealth Management LLC grew its position in shares of Parker-Hannifin by 5.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,896 shares of the industrial products company’s stock valued at $1,206,000 after acquiring an additional 97 shares during the period. Empowered Funds LLC grew its position in shares of Parker-Hannifin by 15.2% during the 4th quarter. Empowered Funds LLC now owns 2,879 shares of the industrial products company’s stock valued at $1,831,000 after acquiring an additional 380 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in shares of Parker-Hannifin by 16.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,982 shares of the industrial products company’s stock valued at $5,077,000 after acquiring an additional 1,148 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. Evercore ISI increased their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Morgan Stanley initiated coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They set an “equal weight” rating and a $700.00 target price for the company. Stifel Nicolaus increased their target price 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. KeyCorp increased their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Wolfe Research lowered shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $719.71.

Parker-Hannifin Price Performance

PH stock opened at $671.18 on Wednesday. The firm has a 50 day moving average of $619.99 and a 200-day moving average of $644.99. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The firm has a market capitalization of $85.76 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34.

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, beating analysts’ consensus estimates 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 last year, the business earned $6.51 earnings per share. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a $1.80 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were 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 of the company’s stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is owned by company insiders.

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.