Running Oak Capital LLC Purchases 1,769 Shares of Parker-Hannifin Corporation (NYSE:PH)

Running Oak Capital LLC raised its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,263 shares of the industrial products company’s stock after acquiring an additional 1,769 shares during the period. Running Oak Capital LLC’s holdings in Parker-Hannifin were worth $15,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. HUB Investment Partners LLC increased its position in Parker-Hannifin by 15.7% during the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock valued at $4,960,000 after acquiring an additional 1,057 shares during the last quarter. Congress Wealth Management LLC DE grew its holdings in shares of Parker-Hannifin by 67.8% in the fourth quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company’s stock worth $29,135,000 after purchasing an additional 18,503 shares during the last quarter. Washington Trust Bank grew its holdings in shares of Parker-Hannifin by 3,019.5% in the fourth quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock worth $9,881,000 after purchasing an additional 15,037 shares during the last quarter. Ascent Wealth Partners LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $1,216,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Parker-Hannifin by 7.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,294 shares of the industrial products company’s stock worth $42,801,000 after purchasing an additional 4,668 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PH shares. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Citigroup cut their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. KeyCorp upped their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Morgan Stanley started coverage on shares of Parker-Hannifin in a report on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 price target on the stock. Finally, Truist Financial cut their price target 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. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $719.71.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $651.73 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $718.44. The stock has a market cap of $83.28 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 3.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a fifty day moving average price of $636.98 and a 200 day moving average price of $642.56.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the company earned $6.51 earnings per share. Parker-Hannifin’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin’s payout ratio is currently 27.72%.

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.