Northwest Investment Counselors LLC Invests $31,000 in Parker-Hannifin Co. (NYSE:PH)

Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55 shares of the industrial products company’s stock, valued at approximately $31,000.

Several other institutional investors have also recently modified their holdings of PH. Sachetta LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin during the fourth quarter worth about $26,000. First United Bank & Trust acquired a new stake in Parker-Hannifin during the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin during the fourth quarter worth about $30,000. Finally, Private Wealth Management Group LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth about $33,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 1.8 %

Shares of NYSE PH traded up $9.06 during trading on Monday, reaching $513.22. The stock had a trading volume of 196,413 shares, compared to its average volume of 637,972. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The business’s 50-day moving average price is $534.48 and its 200-day moving average price is $513.84. The company has a market cap of $65.97 billion, a P/E ratio of 23.82, a PEG ratio of 2.03 and a beta of 1.46.

Parker-Hannifin (NYSE:PH) last released its 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 firm posted $5.93 EPS. Parker-Hannifin’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts predict 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. Investors of record on Friday, May 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.27%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 30.73%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial reaffirmed a “buy” rating and set a $611.00 target price on shares of Parker-Hannifin in a report on Wednesday, May 15th. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Wells Fargo & Company dropped their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Argus raised their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $566.33.

Insider Buying and Selling

In other news, VP Berend Bracht sold 1,079 shares of the company’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 of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the business’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 directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

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.