Ballentine Partners LLC Has $758,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Ballentine Partners LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,363 shares of the industrial products company’s stock after purchasing an additional 173 shares during the quarter. Ballentine Partners LLC’s holdings in Parker-Hannifin were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PH. Benson Investment Management Company Inc. raised its holdings in shares of Parker-Hannifin by 1.2% in the 1st quarter. Benson Investment Management Company Inc. now owns 10,244 shares of the industrial products company’s stock valued at $5,694,000 after purchasing an additional 120 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Parker-Hannifin by 11.5% during the 1st quarter. International Assets Investment Management LLC now owns 532 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 55 shares during the last quarter. Crestmont Private Wealth LLC bought a new stake in Parker-Hannifin in the 1st quarter valued at $220,000. Central Bank & Trust Co. raised its stake in Parker-Hannifin by 5.1% in the 1st quarter. Central Bank & Trust Co. now owns 2,290 shares of the industrial products company’s stock valued at $1,273,000 after acquiring an additional 112 shares during the period. Finally, Running Oak Capital LLC lifted its holdings in Parker-Hannifin by 4.0% during the 1st quarter. Running Oak Capital LLC now owns 23,088 shares of the industrial products company’s stock valued at $12,832,000 after purchasing an additional 893 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $1.35 during midday trading on Monday, reaching $505.51. The company’s stock had a trading volume of 18,286 shares, compared to its average volume of 636,487. The stock has a market cap of $64.98 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The business has a 50-day moving average price of $534.48 and a 200-day moving average price of $513.84.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.07 billion. During the same period in the prior year, the company earned $5.93 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side 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. Investors of record on Friday, May 10th were 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 was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Buying and Selling

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

Analyst Ratings Changes

PH has been the topic of several research analyst reports. KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays reduced their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Finally, Argus increased their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $566.33.

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.