Crestmont Private Wealth LLC Purchases 39 Shares of Parker-Hannifin Co. (NYSE:PH)

Crestmont Private Wealth LLC grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 565 shares of the industrial products company’s stock after acquiring an additional 39 shares during the quarter. Crestmont Private Wealth LLC’s holdings in Parker-Hannifin were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $40,000. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

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

Parker-Hannifin Stock Down 0.6%

PH stock opened at $660.50 on Tuesday. The stock’s fifty day simple moving average is $612.52 and its two-hundred day simple moving average is $645.84. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The stock has a market cap of $84.40 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the firm earned $6.51 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.09%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s payout ratio is currently 27.72%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PH shares. KeyCorp boosted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Citigroup decreased their price target on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday, April 14th. Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $720.94.

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.