Parker-Hannifin Co. (NYSE:PH) Shares Bought by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 581.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,068 shares of the industrial products company’s stock after purchasing an additional 9,443 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Parker-Hannifin were worth $7,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PH. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $40,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.4%

Parker-Hannifin stock opened at $672.31 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a 50-day moving average of $602.00 and a 200-day moving average of $646.70. The company has a market cap of $85.91 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.51 EPS. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin’s dividend payout ratio is 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stifel Nicolaus upped their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, Citigroup dropped their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $710.12.

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.