Sequoia Financial Advisors LLC Grows Stake in Parker-Hannifin Corporation (NYSE:PH)

Sequoia Financial Advisors LLC grew its position in Parker-Hannifin Corporation (NYSE:PH) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,776 shares of the industrial products company’s stock after purchasing an additional 539 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Parker-Hannifin were worth $30,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $32,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Parker-Hannifin by 214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after buying an additional 45 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Down 0.1%

Shares of Parker-Hannifin stock opened at $674.34 on Thursday. The firm has a 50-day simple moving average of $643.31 and a two-hundred day simple moving average of $642.43. The company has a market cap of $86.17 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.51 earnings per share. As a group, equities analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a $1.80 dividend. The ex-dividend date was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is 27.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PH shares. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Argus set a $680.00 target price on shares of Parker-Hannifin in a research report on Tuesday, May 6th. KeyCorp boosted their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They set an “equal weight” rating and a $700.00 target price for the company. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

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.