Signaturefd LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Signaturefd LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,711 shares of the industrial products company’s stock after purchasing an additional 260 shares during the quarter. Signaturefd LLC’s holdings in Parker-Hannifin were worth $1,507,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sachetta LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $26,000. First United Bank & Trust bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $29,000. Harbor Investment Advisory LLC increased its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $30,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH traded up $7.25 during midday trading on Thursday, hitting $530.42. 330,766 shares of the company traded hands, compared to its average volume of 647,006. The business has a 50 day simple moving average of $525.07 and a two-hundred day simple moving average of $518.86. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $570.15. The company has a market capitalization of $68.18 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.98 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company posted $5.93 EPS. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 30.73%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Berend Bracht sold 1,079 shares of the business’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 completion of the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James started coverage on Parker-Hannifin in a research report on Friday, June 28th. They issued an “outperform” rating and a $610.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $629.00 price target on shares of Parker-Hannifin in a research report on Tuesday, July 2nd. Barclays decreased their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Finally, Bank of America lifted their price target 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $567.81.

About Parker-Hannifin

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.