Parker-Hannifin Corporation (NYSE:PH) Position Raised by Cwm LLC

Cwm LLC boosted its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.5% during the 1st quarter, HoldingsChannel reports. The firm owned 4,790 shares of the industrial products company’s stock after buying an additional 163 shares during the quarter. Cwm LLC’s holdings in Parker-Hannifin were worth $2,911,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PH. Pittenger & Anderson Inc. grew its stake in Parker-Hannifin by 50.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 150 shares of the industrial products company’s stock valued at $91,000 after buying an additional 50 shares during the last quarter. TruNorth Capital Management LLC grew its position in shares of Parker-Hannifin by 12.0% during the 1st quarter. TruNorth Capital Management LLC now owns 317 shares of the industrial products company’s stock worth $193,000 after buying an additional 34 shares during the period. Arizona State Retirement System grew its holdings in Parker-Hannifin by 1.8% during the first quarter. Arizona State Retirement System now owns 37,776 shares of the industrial products company’s stock valued at $22,962,000 after purchasing an additional 678 shares during the period. Ballentine Partners LLC grew its holdings in Parker-Hannifin by 4.4% during the first quarter. Ballentine Partners LLC now owns 1,657 shares of the industrial products company’s stock valued at $1,007,000 after purchasing an additional 70 shares during the period. Finally, Fulcrum Equity Management bought a new position in Parker-Hannifin in the first quarter valued at approximately $204,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $723.47 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $679.48 and a 200 day simple moving average of $647.91. The company has a market cap of $92.45 billion, a PE ratio of 27.86, a P/E/G ratio of 3.05 and a beta of 1.34. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $727.67.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business earned $6.51 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a $1.80 dividend. 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 1.00%. Parker-Hannifin’s payout ratio is currently 27.72%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Morgan Stanley lifted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $670.00 to $709.00 and gave the stock a “hold” rating in a research report on Friday, July 11th. Mizuho set a $785.00 price objective on Parker-Hannifin in a research note on Friday, May 16th. Finally, KeyCorp upped their price objective on Parker-Hannifin from $735.00 to $790.00 and gave the stock an “overweight” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $739.12.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president owned 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.

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.