Parker-Hannifin Corporation (NYSE:PH) Shares Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 14.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,476 shares of the industrial products company’s stock after purchasing an additional 188 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Parker-Hannifin were worth $897,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. First Manhattan CO. LLC. increased its stake in Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock valued at $1,005,000 after purchasing an additional 15 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Parker-Hannifin by 1.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company’s stock valued at $689,000 after purchasing an additional 16 shares in the last quarter. Becker Capital Management Inc. increased its stake in Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its stake in Parker-Hannifin by 3.0% during the 4th quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 17 shares in the last quarter. Finally, Citizens National Bank Trust Department increased its stake in Parker-Hannifin by 8.5% during the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PH. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Citigroup dropped their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Evercore ISI upped their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Finally, Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $719.41.

Parker-Hannifin Stock Performance

PH opened at $719.15 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company has a market cap of $91.89 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.10 and a beta of 1.34. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $720.90. The firm’s fifty day simple moving average is $662.00 and its two-hundred day simple moving average is $643.82.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $6.51 earnings per share. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.00%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by insiders.

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.