Parker-Hannifin Co. (NYSE:PH) Shares Acquired by West Branch Capital LLC

West Branch Capital LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 442.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 217 shares of the industrial products company’s stock after purchasing an additional 177 shares during the period. West Branch Capital LLC’s holdings in Parker-Hannifin were worth $132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Howard Capital Management Group LLC boosted its stake in Parker-Hannifin by 2.2% in the first quarter. Howard Capital Management Group LLC now owns 37,566 shares of the industrial products company’s stock valued at $22,834,000 after acquiring an additional 791 shares during the period. Bar Harbor Wealth Management boosted its stake in Parker-Hannifin by 2.2% in the first quarter. Bar Harbor Wealth Management now owns 21,949 shares of the industrial products company’s stock valued at $13,342,000 after acquiring an additional 479 shares during the period. Liberty Capital Management Inc. acquired a new position in Parker-Hannifin in the first quarter valued at approximately $272,000. Union Bancaire Privee UBP SA boosted its stake in Parker-Hannifin by 10.5% in the first quarter. Union Bancaire Privee UBP SA now owns 58,876 shares of the industrial products company’s stock valued at $34,604,000 after acquiring an additional 5,593 shares during the period. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in Parker-Hannifin by 1.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 162,454 shares of the industrial products company’s stock valued at $98,748,000 after acquiring an additional 2,385 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PH shares. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Mizuho set a $785.00 price objective on Parker-Hannifin in a research report on Friday, May 16th. Evercore ISI boosted their price objective on 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 target price on Parker-Hannifin in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $719.71.

Parker-Hannifin Stock Down 2.0%

NYSE PH opened at $653.73 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a 50-day simple moving average of $628.39 and a 200 day simple moving average of $644.55. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The stock has a market cap of $83.53 billion, a PE ratio of 27.06, a PEG ratio of 2.85 and a beta of 1.34.

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

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is 27.72%.

Insider Buying and Selling

In related 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 transaction, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.

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.