Parker-Hannifin Co. (NYSE:PH) Shares Acquired by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 10,339.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 19,000 shares of the industrial products company’s stock after purchasing an additional 18,818 shares during the quarter. Parker-Hannifin makes up about 1.4% of SOA Wealth Advisors LLC.’s holdings, making the stock its 14th largest position. SOA Wealth Advisors LLC.’s holdings in Parker-Hannifin were worth $11,549,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $32,000. Finally, Kestra Investment Management LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays reduced their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Evercore ISI raised their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Finally, KeyCorp lifted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $719.71.

Parker-Hannifin Trading Up 1.5%

Shares of NYSE:PH opened at $672.02 on Friday. The company has a market cap of $85.87 billion, a PE ratio of 27.82, a P/E/G ratio of 2.85 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $616.90 and its 200 day moving average price is $645.47. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $6.51 EPS. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.39% of the stock is owned by corporate insiders.

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.