Whittier Trust Co. of Nevada Inc. Acquires 393 Shares of Parker-Hannifin Co. (NYSE:PH)

Whittier Trust Co. of Nevada Inc. increased its holdings in Parker-Hannifin Co. (NYSE:PHFree Report) by 92.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 819 shares of the industrial products company’s stock after buying an additional 393 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Parker-Hannifin were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sachetta LLC purchased a new position in Parker-Hannifin in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin in the fourth quarter valued at $26,000. First United Bank & Trust purchased a new stake in Parker-Hannifin in the fourth quarter valued at $29,000. Harbor Investment Advisory LLC raised its holdings in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $30,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PH. Barclays dropped their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $550.00 to $650.00 in a research report on Tuesday, May 28th. Truist Financial increased their target price on shares of Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, Argus raised their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $569.69.

Get Our Latest Report on Parker-Hannifin

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

PH traded up $0.55 on Wednesday, hitting $509.23. 11,998 shares of the company were exchanged, compared to its average volume of 644,740. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The business’s fifty day moving average is $525.46 and its 200 day moving average is $518.83. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The firm has a market capitalization of $65.46 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the business posted $5.93 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.28%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Parker-Hannifin Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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