Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. grew its holdings in Parker-Hannifin Co. (NYSE:PHFree Report) by 506.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 400 shares of the industrial products company’s stock after acquiring an additional 334 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Parker-Hannifin were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC boosted its holdings in Parker-Hannifin by 9.6% in the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after acquiring an additional 324,063 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Parker-Hannifin by 1.8% during the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after purchasing an additional 52,739 shares during the period. Norges Bank acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $665,188,000. Northern Trust Corp lifted its holdings in shares of Parker-Hannifin by 2.9% during the third quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock worth $510,320,000 after purchasing an additional 36,744 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its holdings in shares of Parker-Hannifin by 42.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after purchasing an additional 336,370 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho lifted their target price on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. KeyCorp boosted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Barclays decreased their price target on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $560.20.

Read Our Latest Report on PH

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $1.13 on Tuesday, reaching $546.87. The company’s stock had a trading volume of 546,518 shares, compared to its average volume of 607,545. 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 $319.14 and a 52-week high of $570.15. The company has a market capitalization of $70.29 billion, a P/E ratio of 25.77, a PEG ratio of 1.88 and a beta of 1.51. The stock has a 50-day moving average price of $548.94 and a 200-day moving average price of $498.74.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the business earned $5.93 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 24.82 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared 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. This represents a $6.52 annualized dividend and a dividend yield of 1.19%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 30.73%.

Parker-Hannifin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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