427 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Seneca House Advisors

Seneca House Advisors bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 427 shares of the industrial products company’s stock, valued at approximately $237,000.

Other hedge funds have also recently bought and sold shares of the company. Sachetta LLC purchased a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin in the 4th quarter worth about $26,000. First United Bank & Trust purchased a new position in Parker-Hannifin in the 4th quarter worth about $29,000. Harbor Investment Advisory LLC increased its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Parker-Hannifin in the 4th quarter worth about $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Barclays decreased their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Truist Financial restated a “buy” rating and set a $611.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, May 15th. Raymond James began coverage on Parker-Hannifin in a research report on Friday. They set an “outperform” rating and a $610.00 price objective for the company. Finally, KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.06.

Parker-Hannifin Stock Performance

PH traded up $1.59 on Friday, hitting $505.81. The company had a trading volume of 2,809,368 shares, compared to its average volume of 748,323. The company’s fifty day moving average price is $531.05 and its 200 day moving average price is $516.21. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $570.15. 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 stock has a market cap of $65.02 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46.

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 the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period 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. Equities analysts predict that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were issued a $1.63 dividend. 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%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s payout ratio is 30.73%.

Insider Buying and Selling

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 value of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

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.