National Bank of Canada FI Buys 66,752 Shares of Parker-Hannifin Co. (NYSE:PH)

National Bank of Canada FI increased its stake in Parker-Hannifin Co. (NYSE:PH) by 177.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,452 shares of the industrial products company’s stock after buying an additional 66,752 shares during the period. National Bank of Canada FI owned 0.08% of Parker-Hannifin worth $58,610,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PH. Whittier Trust Co. of Nevada Inc. raised its stake in Parker-Hannifin by 10.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 426 shares of the industrial products company’s stock worth $196,000 after buying an additional 41 shares in the last quarter. Everhart Financial Group Inc. increased its stake in shares of Parker-Hannifin by 6.6% during the fourth quarter. Everhart Financial Group Inc. now owns 569 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 35 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $206,000. Cooper Financial Group increased its stake in shares of Parker-Hannifin by 55.5% during the fourth quarter. Cooper Financial Group now owns 936 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 334 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $218,000. 82.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay Reidy sold 572 shares of Parker-Hannifin 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 $609,989.13. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

PH stock traded down $22.44 on Wednesday, hitting $529.22. The company had a trading volume of 1,113,795 shares, compared to its average volume of 661,022. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month 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 stock’s 50-day simple moving average is $524.36 and its 200 day simple moving average is $525.03. The stock has a market cap of $68.03 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 2.11 and a beta of 1.44.

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

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PH. KeyCorp raised their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Raymond James began coverage on shares of Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Truist Financial raised their target price on shares of Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Stifel Nicolaus decreased their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Bank of America increased their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $576.27.

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 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.