Williams Jones Wealth Management LLC. raised its stake in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,948 shares of the industrial products company’s stock after purchasing an additional 146 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Parker-Hannifin were worth $6,228,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Prospera Financial Services Inc acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at $223,000. Mendel Capital Management LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at $359,000. Meeder Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 9.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock valued at $778,000 after acquiring an additional 232 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of Parker-Hannifin by 20.9% during the 1st quarter. State of Tennessee Treasury Department now owns 161,132 shares of the industrial products company’s stock valued at $45,723,000 after acquiring an additional 27,901 shares in the last quarter. Finally, MCF Advisors LLC acquired a new position in shares of Parker-Hannifin during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 82.65% of the company’s stock.
Parker-Hannifin Trading Up 1.5 %
NYSE PH opened at $278.99 on Friday. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $340.00. The company has a 50-day simple moving average of $274.86 and a 200-day simple moving average of $273.39. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.68 and a current ratio of 2.06. The firm has a market capitalization of $35.82 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57.
Parker-Hannifin Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were paid a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, August 26th. Parker-Hannifin’s payout ratio is 52.78%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on PH shares. Barclays lifted their target price on shares of Parker-Hannifin to $340.00 in a report on Tuesday, August 9th. Stifel Nicolaus dropped their price target on shares of Parker-Hannifin from $343.00 to $283.00 in a research note on Monday, July 18th. The Goldman Sachs Group dropped their price target on shares of Parker-Hannifin from $346.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. KeyCorp dropped their price target on shares of Parker-Hannifin from $385.00 to $335.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Credit Suisse Group lifted their price target on shares of Parker-Hannifin to $361.00 in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $333.00.
Insider Buying and Selling at Parker-Hannifin
In other Parker-Hannifin news, VP Andrew D. Ross sold 3,224 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $296.30, for a total transaction of $955,271.20. Following the completion of the transaction, the vice president now directly owns 9,840 shares of the company’s stock, valued at approximately $2,915,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.47% of the stock is currently owned by company insiders.
Parker-Hannifin Company 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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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