Wesbanco Bank Inc. Has $19.66 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Wesbanco Bank Inc. grew its position in Parker-Hannifin Co. (NYSE:PH) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,335 shares of the industrial products company’s stock after purchasing an additional 1,382 shares during the quarter. Wesbanco Bank Inc.’s holdings in Parker-Hannifin were worth $19,655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. Brighton Jones LLC increased its position in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $32,781,000. Golden State Wealth Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $116,000. Apollon Wealth Management LLC raised its position in shares of Parker-Hannifin by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 5,213 shares of the industrial products company’s stock valued at $3,316,000 after buying an additional 62 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 5.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,896 shares of the industrial products company’s stock valued at $1,206,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PH shares. Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. KeyCorp raised their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Wall Street Zen cut 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 given a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $719.71.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $672.02 on Monday. The company has a market capitalization of $85.87 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.85 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The stock has a fifty day simple moving average of $616.90 and a 200 day simple moving average of $645.07.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business’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 EPS. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

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

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.