Cherry Tree Wealth Management LLC Increases Position in Parker-Hannifin Co. (NYSE:PH)

Cherry Tree Wealth Management LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 44.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81 shares of the industrial products company’s stock after buying an additional 25 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in Parker-Hannifin were worth $37,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PH. Beaumont Asset Management L.L.C. boosted its holdings in shares of Parker-Hannifin by 0.8% in the fourth 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 in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its holdings in Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. increased its position 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 worth $58,000 after purchasing an additional 25 shares during the period. Private Trust Co. NA raised its stake in shares of 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 worth $1,730,000 after buying an additional 25 shares in the last quarter. Finally, Keel Point LLC lifted its holdings in shares of Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock valued at $388,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday. Mizuho boosted their price objective on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday. Barclays dropped their target price on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $539.56.

Parker-Hannifin Price Performance

Shares of PH traded down $0.65 during trading hours on Tuesday, reaching $550.14. 475,443 shares of the company traded hands, compared to its average volume of 605,391. The stock has a market capitalization of $70.64 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The stock has a fifty day simple moving average of $545.73 and a 200 day simple moving average of $486.41. Parker-Hannifin Co. has a fifty-two week low of $319.14 and a fifty-two week high of $570.15. 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 released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the company earned $5.93 EPS. As a group, research analysts predict that Parker-Hannifin Co. will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.19%. Parker-Hannifin’s dividend payout ratio is 27.90%.

Insider Buying and Selling at Parker-Hannifin

In related news, 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 transaction of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, 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 company insiders.

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.