Kesler Norman & Wride LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Kesler Norman & Wride LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,061 shares of the industrial products company’s stock, valued at approximately $5,037,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Harbor Investment Advisory LLC boosted its holdings in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 20 shares during the period. Beaumont Asset Management L.L.C. boosted its holdings in Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after acquiring an additional 24 shares during the period. M&R Capital Management Inc. boosted its holdings in Parker-Hannifin by 25.0% during the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 25 shares during the period. Finally, Private Trust Co. NA boosted its holdings in Parker-Hannifin by 0.7% during the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after acquiring an additional 25 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 0.5 %

Shares of NYSE:PH traded up $2.69 during trading on Thursday, hitting $512.72. The stock had a trading volume of 439,124 shares, compared to its average volume of 783,722. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $570.15. The company has a market capitalization of $65.91 billion, a PE ratio of 24.16, a PEG ratio of 1.98 and a beta of 1.44. The firm’s fifty day moving average is $528.79 and its 200 day moving average is $516.89. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

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 analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company earned $5.93 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the 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 sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PH has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Stifel Nicolaus restated a “buy” rating and set a $629.00 target price on shares of Parker-Hannifin in a report on Tuesday. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their price target for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Bank of America upped their price target on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Truist Financial upped their price target on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $569.69.

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.