Parker-Hannifin Co. (NYSE:PH) Shares Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,466 shares of the industrial products company’s stock after buying an additional 80 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Parker-Hannifin were worth $1,136,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PH. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $1,337,000. Aigen Investment Management LP purchased a new position in Parker-Hannifin during the third quarter worth about $270,000. CI Investments Inc. lifted its holdings in shares of Parker-Hannifin by 26.4% in the 3rd quarter. CI Investments Inc. now owns 2,248 shares of the industrial products company’s stock worth $876,000 after acquiring an additional 470 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $183,000. Finally, Hsbc Holdings PLC lifted its stake in Parker-Hannifin by 59.4% during the third quarter. Hsbc Holdings PLC now owns 215,275 shares of the industrial products company’s stock worth $83,894,000 after purchasing an additional 80,215 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred 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 sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Berend Bracht sold 1,079 shares of the business’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 value of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of several research analyst reports. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Bank of America boosted their target price on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price target for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. KeyCorp boosted their price target 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. Finally, Argus lifted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $566.33.

Parker-Hannifin Stock Performance

Shares of PH opened at $506.83 on Thursday. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The firm has a market cap of $65.15 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. The company’s 50 day simple moving average is $536.36 and its 200-day simple moving average is $512.31.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping 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 business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm earned $5.93 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 30.73%.

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.