Yousif Capital Management LLC Purchases 33 Shares of Parker-Hannifin Co. (NYSE:PH)

Yousif Capital Management LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,375 shares of the industrial products company’s stock after buying an additional 33 shares during the quarter. Yousif Capital Management LLC’s holdings in Parker-Hannifin were worth $9,954,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. grew its holdings in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after purchasing an additional 25,605 shares during the last quarter. HUB Investment Partners LLC grew its holdings in shares of Parker-Hannifin by 15.7% during 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 purchasing an additional 1,057 shares during the last quarter. Congress Wealth Management LLC DE grew its holdings 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 valued at $29,135,000 after purchasing an additional 18,503 shares during the last quarter. Washington Trust Bank grew its holdings 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 valued at $9,881,000 after purchasing an additional 15,037 shares during the last quarter. Finally, Ascent Wealth Partners LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $1,216,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PH shares. Evercore ISI lifted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. KeyCorp lifted their price target 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. Morgan Stanley began coverage on shares of Parker-Hannifin in a report on Thursday, June 5th. They set an “equal weight” rating and a $700.00 price target on the stock. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $719.71.

Parker-Hannifin Stock Up 0.2%

Parker-Hannifin stock opened at $671.18 on Wednesday. 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 12-month low of $488.45 and a 12-month high of $718.44. The firm’s fifty day moving average is $619.99 and its 200 day moving average is $644.99. The company has a market capitalization of $85.76 billion, a PE ratio of 27.78, a PEG ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last released 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 net margin of 15.87% and a return on equity of 27.34%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 EPS. Parker-Hannifin’s quarterly 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 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

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.