Simon Quick Advisors LLC Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Simon Quick Advisors LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 29.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 768 shares of the industrial products company’s stock after purchasing an additional 175 shares during the period. Simon Quick Advisors LLC’s holdings in Parker-Hannifin were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after buying an additional 111,406 shares during the period. Geode Capital Management LLC grew its stake in shares of Parker-Hannifin by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after acquiring an additional 99,261 shares in the last quarter. Invesco Ltd. grew its stake in shares of Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after acquiring an additional 198,292 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock worth $1,282,294,000 after purchasing an additional 172,064 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Citigroup dropped 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 note on Monday, April 14th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research report on Friday, May 16th. Evercore ISI upped their target price 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. Finally, Argus set a $680.00 price target on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $719.71.

Parker-Hannifin Stock Performance

NYSE:PH opened at $653.73 on Friday. 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 has a market cap of $83.53 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm’s 50 day moving average is $628.39 and its two-hundred day moving average is $644.55.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

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.