Everpar Advisors LLC Takes $1.34 Million Position in Parker-Hannifin Co. (NYSE:PH)

Everpar Advisors LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,905 shares of the industrial products company’s stock, valued at approximately $1,338,000. Parker-Hannifin makes up approximately 0.6% of Everpar Advisors LLC’s holdings, making the stock its 27th biggest position.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC increased its position in Parker-Hannifin by 9.6% in the third 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. Invesco Ltd. raised its stake in Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after acquiring an additional 52,739 shares during the period. Northern Trust Corp lifted its holdings in Parker-Hannifin by 2.9% during the third quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after purchasing an additional 36,744 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Parker-Hannifin by 42.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after purchasing an additional 336,370 shares during the period. Finally, Kestra Advisory Services LLC increased its stake in shares of Parker-Hannifin by 7.4% in the third quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock worth $244,136,000 after purchasing an additional 43,059 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock traded up $4.49 during trading hours on Wednesday, hitting $554.67. The company’s stock had a trading volume of 315,906 shares, compared to its average volume of 602,323. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The stock has a market cap of $71.23 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a twelve month low of $319.14 and a twelve month high of $570.15. The business has a fifty day moving average of $545.73 and a 200-day moving average of $486.41.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.63 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is 27.90%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PH shares. Mizuho boosted their target price on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Stifel Nicolaus raised their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Argus increased their target price on 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $539.56.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 1,079 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 1,079 shares of the 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 disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

About Parker-Hannifin

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.