Breed s Hill Capital LLC Buys New Position in Parker-Hannifin Co. (NYSE:PH)

Breed s Hill Capital LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 487 shares of the industrial products company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Alphinity Investment Management Pty Ltd bought a new stake in Parker-Hannifin during the 3rd quarter worth approximately $310,208,000. FMR LLC increased its stake in Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after buying an additional 324,063 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Parker-Hannifin by 65,634.7% in the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after acquiring an additional 219,220 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Parker-Hannifin by 52.0% in the third quarter. Envestnet Asset Management Inc. now owns 506,406 shares of the industrial products company’s stock worth $197,255,000 after acquiring an additional 173,323 shares during the period. Finally, iA Global Asset Management Inc. bought a new position in shares of Parker-Hannifin in the third quarter worth about $58,601,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Up 1.3 %

Shares of Parker-Hannifin stock traded up $7.39 on Thursday, hitting $560.69. 427,998 shares of the company traded hands, compared to its average volume of 600,455. Parker-Hannifin Co. has a 52 week low of $319.14 and a 52 week high of $570.15. The company has a market cap of $72.07 billion, a PE ratio of 26.42, a PEG ratio of 1.94 and a beta of 1.51. The stock’s 50 day moving average price is $546.21 and its 200-day moving average price is $486.88. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the business earned $5.93 earnings per share. Parker-Hannifin’s revenue was up .3% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 30.73%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PH. KeyCorp upped their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI boosted their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Barclays dropped their price objective on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Argus upped their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $539.56.

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.