J.W. Cole Advisors Inc. Purchases 129 Shares of Parker-Hannifin Co. (NYSE:PH)

J.W. Cole Advisors Inc. grew its position in Parker-Hannifin Co. (NYSE:PH) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,130 shares of the industrial products company’s stock after purchasing an additional 129 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Parker-Hannifin were worth $1,182,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Sachetta LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the 4th quarter worth $26,000. First United Bank & Trust acquired a new position in Parker-Hannifin in the 4th quarter valued at $29,000. Harbor Investment Advisory LLC lifted its position in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Argus upped their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Raymond James began coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They set an “outperform” rating and a $610.00 price target on the stock. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Truist Financial boosted their price target on Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $569.69.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $306,872.28. Following the completion of the transaction, the vice president now directly 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 corporate insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $505.50 on Friday. The business has a 50-day moving average of $527.10 and a 200-day moving average of $517.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The company has a market capitalization of $64.98 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.99 and a beta of 1.44. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) 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 firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the company earned $5.93 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. 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 dividend payout ratio is presently 30.73%.

About Parker-Hannifin

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.