Good Steward Wealth Advisors LLC Acquires Shares of 484 Parker-Hannifin Corporation (NYSE:PH)

Good Steward Wealth Advisors LLC bought a new position in Parker-Hannifin Corporation (NYSE:PH) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 484 shares of the industrial products company’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,106,132,000. GAMMA Investing LLC increased its position in Parker-Hannifin by 66,111.8% during the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after buying an additional 1,732,791 shares in the last quarter. Proficio Capital Partners LLC increased its position in Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. Royal Bank of Canada raised its stake in Parker-Hannifin by 99.8% during 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 during the last quarter. Finally, Capital World Investors bought a new stake in Parker-Hannifin in the fourth quarter worth $418,174,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $652.45 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $718.44. The firm has a market capitalization of $83.37 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 3.04 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $635.24 and a 200 day moving average of $643.27.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.51 EPS. On average, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business 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. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. Parker-Hannifin’s payout ratio is 27.72%.

Insider Buying and Selling

In related 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 value of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a research note on Monday, June 2nd. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. KeyCorp upped their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley began coverage on Parker-Hannifin in a report on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 target price for the company. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

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.