1,899 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by Seven Eight Capital LP

Seven Eight Capital LP bought a new position in Parker-Hannifin Co. (NYSE:PHFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,899 shares of the industrial products company’s stock, valued at approximately $875,000.

Other hedge funds also recently made changes to their positions in the company. Sachetta LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin during the 4th quarter valued at $26,000. First United Bank & Trust purchased a new position in Parker-Hannifin during the 4th quarter valued at $29,000. Private Wealth Management Group LLC purchased a new position in Parker-Hannifin during the 4th quarter valued at $33,000. Finally, Cherry Tree Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 44.6% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 81 shares of the industrial products company’s stock valued at $37,000 after buying an additional 25 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. Argus boosted their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Barclays dropped their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $566.33.

View Our Latest Research Report on Parker-Hannifin

Insider Activity

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

Parker-Hannifin Trading Up 0.2 %

Parker-Hannifin stock opened at $516.14 on Monday. Parker-Hannifin Co. has a 12-month low of $350.01 and a 12-month high of $570.15. 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 firm has a market capitalization of $66.34 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 2.07 and a beta of 1.46. The firm has a 50 day moving average of $542.94 and a 200 day moving average of $508.11.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its quarterly 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 return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the company posted $5.93 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin Co. will post 24.84 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given 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 1.26%. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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

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