Financial Security Advisor Inc. Has $1.77 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Financial Security Advisor Inc. cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.3% in the first quarter, Holdings Channel reports. The firm owned 3,179 shares of the industrial products company’s stock after selling 41 shares during the quarter. Parker-Hannifin accounts for approximately 0.6% of Financial Security Advisor Inc.’s holdings, making the stock its 28th biggest holding. Financial Security Advisor Inc.’s holdings in Parker-Hannifin were worth $1,767,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Applied Capital LLC FL grew its position in Parker-Hannifin by 2.0% during the first quarter. Applied Capital LLC FL now owns 6,404 shares of the industrial products company’s stock worth $3,559,000 after buying an additional 126 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Parker-Hannifin in the 1st quarter valued at about $12,540,000. Miracle Mile Advisors LLC grew its stake in shares of Parker-Hannifin by 7.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 709 shares of the industrial products company’s stock valued at $394,000 after buying an additional 52 shares during the period. LVW Advisors LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $484,000. Finally, Seneca House Advisors acquired a new position in Parker-Hannifin during the 1st quarter valued at about $237,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of the business’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 approximately $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jay Reidy sold 572 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Parker-Hannifin Stock Up 1.8 %

NYSE:PH traded up $9.02 during trading hours on Tuesday, hitting $510.03. The stock had a trading volume of 542,145 shares, compared to its average volume of 655,633. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year 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 company has a market cap of $65.56 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.09 and a beta of 1.44. The business has a 50 day simple moving average of $530.28 and a two-hundred day simple moving average of $516.53.

Parker-Hannifin (NYSE:PH) last released its 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 firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.93 earnings per share. Analysts predict that Parker-Hannifin Co. will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.28%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Analyst Ratings Changes

PH has been the subject of a number of research reports. KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Raymond James initiated coverage on shares of Parker-Hannifin in a report on Friday. They issued an “outperform” rating and a $610.00 target price on the stock. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Stifel Nicolaus restated a “buy” rating and set a $629.00 price objective on shares of Parker-Hannifin in a research report on Tuesday. Finally, Argus lifted their price target 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. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $569.69.

Parker-Hannifin 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 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.