NBC Securities Inc. Buys 5,543 Shares of Parker-Hannifin Co. (NYSE:PH)

NBC Securities Inc. increased its stake in Parker-Hannifin Co. (NYSE:PHFree Report) by 264.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,639 shares of the industrial products company’s stock after buying an additional 5,543 shares during the period. NBC Securities Inc.’s holdings in Parker-Hannifin were worth $4,245,000 as of its most recent SEC filing.

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

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a legal filing with the SEC, which is available at 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 sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their target price for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Stifel Nicolaus increased their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Bank of America raised their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $566.33.

Check Out Our Latest Stock Analysis on PH

Parker-Hannifin Stock Up 0.2 %

Shares of PH traded up $0.80 during mid-day trading on Wednesday, hitting $506.83. 705,637 shares of the company traded hands, compared to its average volume of 757,056. The business has a 50 day moving average of $537.33 and a 200 day moving average of $512.35. The company has a market capitalization of $65.15 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $570.15.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The business 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 business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted $5.93 earnings per share. Equities research analysts anticipate 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 represents a $6.52 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is presently 30.73%.

Parker-Hannifin 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.

See Also

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

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