InterOcean Capital Group LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

InterOcean Capital Group LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 32.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,748 shares of the industrial products company’s stock after buying an additional 428 shares during the quarter. InterOcean Capital Group LLC’s holdings in Parker-Hannifin were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beaumont Asset Management L.L.C. lifted its holdings in shares of Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after buying an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after buying an additional 25 shares during the period. M&R Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after buying an additional 25 shares during the period. Private Trust Co. NA raised its holdings in Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 25 shares during the period. Finally, Keel Point LLC raised its holdings in Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 25 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PH shares. Wells Fargo & Company reduced their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday, May 6th. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI boosted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Argus boosted their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Bank of America boosted their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $560.20.

Check Out Our Latest Research Report on PH

Parker-Hannifin Stock Performance

Shares of NYSE PH traded down $14.87 during midday trading on Thursday, reaching $531.20. 251,995 shares of the company were exchanged, compared to its average volume of 602,655. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15. The stock has a fifty day simple moving average of $549.07 and a 200 day simple moving average of $499.07. The stock has a market cap of $68.28 billion, a P/E ratio of 25.73, a PEG ratio of 2.19 and a beta of 1.51.

Parker-Hannifin (NYSE:PHGet Free Report) last released 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 return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company posted $5.93 earnings per share. The business’s revenue was up .3% on a year-over-year basis. On average, research analysts forecast that Parker-Hannifin Co. will post 24.82 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Activity at Parker-Hannifin

In related 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 transaction of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Parker-Hannifin Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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