Wesbanco Bank Inc. Buys 1,382 Shares of 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 13F filing with the SEC. The institutional investor owned 32,335 shares of the industrial products company’s stock after purchasing an additional 1,382 shares during the period. Wesbanco Bank Inc.’s holdings in Parker-Hannifin were worth $19,655,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the fourth quarter valued at about $32,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin in the fourth quarter valued at about $40,000. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business’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 transaction, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

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 P/E/G ratio of 2.85 and a beta of 1.34. The business’s 50-day moving average price is $616.90 and its two-hundred day moving average price is $645.07. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business 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 earned $6.51 EPS. Parker-Hannifin’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin’s payout ratio is 27.72%.

Analyst Ratings Changes

A number of research analysts have issued reports on PH shares. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Evercore ISI boosted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Barclays reduced their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Finally, Morgan Stanley began coverage on Parker-Hannifin in a research report on Thursday. They issued an “equal weight” rating and a $700.00 price target on the stock. Five research 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, the stock has an average rating of “Moderate Buy” and an average target price of $719.71.

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.