Wealthcare Advisory Partners LLC Buys Shares of 5,186 Parker-Hannifin Co. (NYSE:PH)

Wealthcare Advisory Partners LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,186 shares of the industrial products company’s stock, valued at approximately $2,882,000.

A number of other institutional investors have also modified their holdings of PH. Sachetta LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new position in Parker-Hannifin during the 4th quarter valued at approximately $26,000. First United Bank & Trust purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $29,000. Harbor Investment Advisory LLC lifted its stake in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $30,000. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction 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 firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays lowered their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. KeyCorp increased 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. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Four equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $566.33.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $504.22 on Friday. The company has a fifty day simple moving average of $532.30 and a 200-day simple moving average of $514.77. The firm has a market capitalization of $64.81 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.01 and a beta of 1.46. 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 Co. has a 52-week low of $362.49 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. Parker-Hannifin’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.93 EPS. On average, equities analysts anticipate that Parker-Hannifin Co. will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

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.