Parker-Hannifin Co. (NYSE:PH) Shares Acquired by LGT Group Foundation

LGT Group Foundation boosted its position in Parker-Hannifin Co. (NYSE:PH) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,872 shares of the industrial products company’s stock after purchasing an additional 2,369 shares during the period. LGT Group Foundation’s holdings in Parker-Hannifin were worth $25,349,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PH. FFT Wealth Management LLC raised its position in Parker-Hannifin by 4.4% during the fourth quarter. FFT Wealth Management LLC now owns 947 shares of the industrial products company’s stock worth $436,000 after acquiring an additional 40 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Parker-Hannifin by 14.4% during the 4th quarter. First Trust Direct Indexing L.P. now owns 4,015 shares of the industrial products company’s stock worth $1,850,000 after purchasing an additional 505 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of Parker-Hannifin by 1.8% during the 4th quarter. Great Valley Advisor Group Inc. now owns 1,410 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 25 shares during the last quarter. New York Life Investment Management LLC grew its holdings in Parker-Hannifin by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 20,064 shares of the industrial products company’s stock valued at $9,243,000 after buying an additional 141 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new position in Parker-Hannifin during the fourth quarter worth $238,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 2.8 %

Shares of PH traded down $15.03 during mid-day trading on Thursday, reaching $527.93. 911,345 shares of the stock traded hands, compared to its average volume of 589,265. The firm has a market cap of $67.79 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 1.99 and a beta of 1.51. The stock has a fifty day simple moving average of $544.84 and a 200 day simple moving average of $481.32. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.76 EPS. Sell-side analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.24%. Parker-Hannifin’s payout ratio is 29.31%.

Wall Street Analyst Weigh In

PH has been the topic of several recent research reports. Barclays upped their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Stifel Nicolaus increased their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock worth $6,099,566 in the last 90 days. 1.03% of the stock is owned by corporate 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.