Opal Wealth Advisors LLC Invests $50,000 in Parker-Hannifin Co. (NYSE:PH)

Opal Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 83 shares of the industrial products company’s stock, valued at approximately $50,000.

A number of other large investors have also made changes to their positions in PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $32,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 2.0%

Shares of NYSE PH opened at $653.73 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $83.53 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.85 and a beta of 1.34. The company has a 50 day simple moving average of $628.39 and a 200-day simple moving average of $643.77. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share 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 analysts’ expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $6.51 EPS. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling

In other Parker-Hannifin 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 completion of the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PH has been the topic of several recent analyst reports. KeyCorp increased their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a research report on Monday, June 2nd. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Barclays cut their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.