KPP Advisory Services LLC Buys 291 Shares of Parker-Hannifin Corporation (NYSE:PH)

KPP Advisory Services LLC increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 12.3% in the 1st quarter, Holdings Channel reports. The firm owned 2,651 shares of the industrial products company’s stock after buying an additional 291 shares during the period. KPP Advisory Services LLC’s holdings in Parker-Hannifin were worth $1,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC purchased a new stake in 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, Meeder Asset Management Inc. boosted its position in Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH opened at $674.34 on Thursday. The business has a fifty day moving average of $643.31 and a 200 day moving average of $642.43. The stock has a market cap of $86.17 billion, a P/E ratio of 25.97, a PEG ratio of 3.15 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $718.44.

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, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $6.51 earnings per share. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

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

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PH shares. Truist Financial lowered their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target 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.