National Bank of Canada FI Acquires 61 Shares of Parker-Hannifin Co. (NYSE:PH)

National Bank of Canada FI lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 37,700 shares of the industrial products company’s stock after buying an additional 61 shares during the quarter. National Bank of Canada FI’s holdings in Parker-Hannifin were worth $17,290,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PH. OFI Invest Asset Management bought a new position in shares of Parker-Hannifin in the third quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $26,000. Baystate Wealth Management LLC grew its stake in shares of Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 49 shares during the last quarter. Oakworth Capital Inc. increased its position in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 28 shares during the period. Finally, ORG Partners LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at $42,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of PH stock opened at $550.14 on Wednesday. Parker-Hannifin Co. has a 52 week low of $319.14 and a 52 week high of $570.15. The stock has a market capitalization of $70.64 billion, a PE ratio of 25.93, a PEG ratio of 1.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock’s fifty day moving average is $545.73 and its 200-day moving average is $486.41.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating 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 firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company posted $5.93 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Co. will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.19%. Parker-Hannifin’s dividend payout ratio is currently 27.90%.

Analyst Ratings Changes

PH has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company cut their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday. Argus lifted their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $539.56.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

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.