TFB Advisors LLC Purchases Shares of 523 Parker-Hannifin Co. (NYSE:PH)

TFB Advisors LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 523 shares of the industrial products company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. Fidelis Capital Partners LLC increased its stake in Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after buying an additional 19 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. GoalVest Advisory LLC lifted its holdings in Parker-Hannifin by 40.0% during the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares during the period. Essex Financial Services Inc. boosted its position in Parker-Hannifin by 4.3% in the first quarter. Essex Financial Services Inc. now owns 539 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 22 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. grew its stake in Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PH shares. Argus boosted their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Stifel Nicolaus restated a “buy” rating and set a $629.00 price target on shares of Parker-Hannifin in a research note on Tuesday, July 2nd. Truist Financial lifted their price target on shares of Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Raymond James initiated coverage on Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $567.81.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were 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 directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed 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 dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $14.63 during midday trading on Wednesday, reaching $523.31. 642,860 shares of the stock were exchanged, compared to its average volume of 649,555. The company’s fifty day moving average is $525.46 and its 200-day moving average is $518.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The firm has a market cap of $67.27 billion, a PE ratio of 24.54, a PEG ratio of 1.98 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company earned $5.93 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts forecast 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. Investors of record on Friday, May 10th were paid a $1.63 dividend. 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 yield of 1.25%. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

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.