Parker-Hannifin Corporation (NYSE:PH) Shares Purchased by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 6.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,014 shares of the industrial products company’s stock after acquiring an additional 64 shares during the period. AssuredPartners Investment Advisors LLC’s holdings in Parker-Hannifin were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. HUB Investment Partners LLC grew its stake in Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock valued at $4,960,000 after acquiring an additional 1,057 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in shares of Parker-Hannifin by 67.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company’s stock worth $29,135,000 after purchasing an additional 18,503 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Parker-Hannifin by 3,019.5% during the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock worth $9,881,000 after purchasing an additional 15,037 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Parker-Hannifin by 7.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,294 shares of the industrial products company’s stock worth $42,801,000 after purchasing an additional 4,668 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Parker-Hannifin by 27.2% during the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company’s stock worth $18,850,000 after purchasing an additional 6,630 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PH shares. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Barclays cut their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president now owns 2,083 shares in the company, 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 this hyperlink. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 1.7%

NYSE PH opened at $675.64 on Wednesday. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $718.44. The company’s 50 day moving average price is $641.02 and its 200 day moving average price is $642.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The firm has a market capitalization of $86.33 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 3.10 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the firm posted $6.51 earnings per share. Parker-Hannifin’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current 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 paid 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 1.07%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

About Parker-Hannifin

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.