Vident Advisory LLC Acquires 276 Shares of Parker-Hannifin Co. (NYSE:PH)

by · The Markets Daily

Vident Advisory LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,331 shares of the industrial products company’s stock after acquiring an additional 276 shares during the quarter. Vident Advisory LLC’s holdings in Parker-Hannifin were worth $2,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth $40,000. Finally, Meeder Asset Management Inc. grew its stake in Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Trading Down 2.7%

NYSE PH opened at $661.82 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The stock has a market cap of $84.57 billion, a P/E ratio of 27.39, a P/E/G ratio of 2.85 and a beta of 1.36. The stock’s fifty day moving average price is $607.53 and its 200-day moving average price is $647.97.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the firm posted $6.51 earnings per share. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PH shares. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus upped their price target on Parker-Hannifin from $564.00 to $630.00 and gave the stock a “hold” rating in a research note on Friday, May 2nd. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Evercore ISI upped their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, KeyCorp upped their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $718.44.

View Our Latest Stock Report on PH

Parker-Hannifin Company 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.

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