Independent Advisor Alliance raised its holdings in Parker-Hannifin Corp (NYSE:PH) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,558 shares of the industrial products company’s stock after purchasing an additional 548 shares during the period. Independent Advisor Alliance’s holdings in Parker-Hannifin were worth $2,327,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PH. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Parker-Hannifin by 4.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,563 shares of the industrial products company’s stock valued at $1,298,000 after acquiring an additional 343 shares during the period. Stratos Wealth Partners LTD. lifted its position in Parker-Hannifin by 23.8% during the first quarter. Stratos Wealth Partners LTD. now owns 7,075 shares of the industrial products company’s stock valued at $1,214,000 after purchasing an additional 1,361 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in Parker-Hannifin by 8.5% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,380 shares of the industrial products company’s stock valued at $1,609,000 after purchasing an additional 733 shares during the last quarter. Raymond James & Associates lifted its position in Parker-Hannifin by 9.6% during the first quarter. Raymond James & Associates now owns 106,893 shares of the industrial products company’s stock valued at $18,345,000 after purchasing an additional 9,362 shares during the last quarter. Finally, Cypress Capital Management LLC bought a new stake in Parker-Hannifin during the first quarter valued at approximately $2,892,000. Hedge funds and other institutional investors own 81.32% of the company’s stock.
Shares of NYSE PH traded up $1.10 during mid-day trading on Thursday, hitting $170.22. The stock had a trading volume of 9,741 shares, compared to its average volume of 919,879. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a 1 year low of $140.82 and a 1 year high of $193.19. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.56 and a beta of 1.46.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.07%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 33.78%.
Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Morgan Stanley set a $179.00 target price on shares of Parker-Hannifin and gave the company a “hold” rating in a research report on Friday, May 3rd. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Barclays lifted their target price on shares of Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Robert W. Baird set a $180.00 target price on shares of Parker-Hannifin and gave the company a “buy” rating in a research report on Saturday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Parker-Hannifin currently has a consensus rating of “Hold” and a consensus price target of $182.35.
In related news, VP Roger S. Sherrard sold 2,040 shares of Parker-Hannifin stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $171.80, for a total value of $350,472.00. Following the transaction, the vice president now directly owns 62,620 shares of the company’s stock, valued at $10,758,116. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert W. Malone sold 1,300 shares of Parker-Hannifin stock in a transaction on Friday, February 15th. The stock was sold at an average price of $173.34, for a total transaction of $225,342.00. Following the completion of the transaction, the vice president now directly owns 19,526 shares in the company, valued at $3,384,636.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,644 shares of company stock worth $1,513,697. 1.12% of the stock is owned by 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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; 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; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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