464 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Aries Wealth Management

Aries Wealth Management purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 1st quarter, HoldingsChannel reports. The fund purchased 464 shares of the industrial products company’s stock, valued at approximately $282,000.

A number of other large investors have also recently bought and sold shares of PH. Norges Bank bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $1,106,132,000. GAMMA Investing LLC boosted its stake in Parker-Hannifin by 66,111.8% in the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $418,174,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They set an “equal weight” rating and a $700.00 price target on the stock. Evercore ISI upped their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. KeyCorp increased their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Citigroup lowered their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Argus set a $680.00 price objective on Parker-Hannifin in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

Parker-Hannifin Stock Performance

PH stock opened at $653.73 on Monday. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $83.53 billion, a P/E ratio of 27.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The business’s fifty day moving average is $628.39 and its 200-day moving average is $643.77.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate 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 company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.51 earnings per share. Equities research analysts forecast that Parker-Hannifin Co. 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. Investors of record on Friday, May 9th were paid 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 was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.10%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Insider Activity at Parker-Hannifin

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

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.