PFW Advisors LLC Buys New Holdings in Parker-Hannifin Co. (NYSE:PH)

PFW Advisors LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,267 shares of the industrial products company’s stock, valued at approximately $704,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sachetta LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin in the fourth quarter worth $26,000. First United Bank & Trust purchased a new position in Parker-Hannifin during the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the 4th quarter worth $30,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $33,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred 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 $609,989.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was 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 $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded down $3.83 during trading on Friday, hitting $504.16. 886,938 shares of the company’s stock traded hands, compared to its average volume of 715,431. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. The business has a 50-day simple moving average of $534.48 and a 200-day simple moving average of $512.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The stock has a market capitalization of $64.80 billion, a P/E ratio of 23.76, a PEG ratio of 2.03 and a beta of 1.46.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $5.93 earnings per share. As a group, analysts forecast that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 30.73%.

Analyst Ratings Changes

A number of research firms recently issued reports on PH. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays decreased their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Bank of America boosted their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $566.33.

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.