Indiana Trust & Investment Management CO Buys 102 Shares of Parker-Hannifin Co. (NYSE:PH)

Indiana Trust & Investment Management CO increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2,040.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 107 shares of the industrial products company’s stock after purchasing an additional 102 shares during the period. Indiana Trust & Investment Management CO’s holdings in Parker-Hannifin were worth $59,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its position in shares of Parker-Hannifin by 51.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,085 shares of the industrial products company’s stock worth $2,760,000 after buying an additional 2,393 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Parker-Hannifin by 114.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,318 shares of the industrial products company’s stock worth $2,851,000 after acquiring an additional 3,904 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Parker-Hannifin in the 3rd quarter worth about $286,000. Teza Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $1,045,000. Finally, Gotham Asset Management LLC boosted its position in shares of Parker-Hannifin by 104.5% during the 3rd quarter. Gotham Asset Management LLC now owns 26,108 shares of the industrial products company’s stock valued at $10,170,000 after acquiring an additional 13,343 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, 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 accessible through this hyperlink. In related news, VP Jay Reidy sold 572 shares of the stock in a transaction dated 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 directly 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 hyperlink. Also, VP Berend Bracht sold 1,079 shares of the business’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 sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent analyst reports. Raymond James assumed coverage on shares of Parker-Hannifin in a research note on Friday. They issued an “outperform” rating and a $610.00 target price on the stock. Argus raised their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Barclays dropped their price objective on shares of 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 raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Bank of America lifted their price target on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $569.06.

Parker-Hannifin Trading Up 0.4 %

Shares of PH opened at $506.37 on Friday. The stock has a market capitalization of $65.09 billion, a P/E ratio of 23.86, a PEG ratio of 2.02 and a beta of 1.46. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month 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. The firm has a fifty day simple moving average of $531.05 and a two-hundred day simple moving average of $515.17.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share 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 company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the business posted $5.93 earnings per share. Parker-Hannifin’s revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

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

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.