Little House Capital LLC Has $1.08 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Little House Capital LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 25.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,942 shares of the industrial products company’s stock after selling 647 shares during the period. Little House Capital LLC’s holdings in Parker-Hannifin were worth $1,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PH. LVW Advisors LLC acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $484,000. Seneca House Advisors acquired a new position in Parker-Hannifin during the first quarter worth $237,000. Grimes & Company Inc. bought a new position in Parker-Hannifin during the first quarter valued at about $212,000. Capital Insight Partners LLC boosted its stake in shares of Parker-Hannifin by 53.2% during the 1st quarter. Capital Insight Partners LLC now owns 1,080 shares of the industrial products company’s stock worth $600,000 after acquiring an additional 375 shares in the last quarter. Finally, AMF Tjanstepension AB increased its holdings in shares of Parker-Hannifin by 12.9% during the 1st quarter. AMF Tjanstepension AB now owns 616,400 shares of the industrial products company’s stock valued at $342,660,000 after acquiring an additional 70,237 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Jay Reidy sold 572 shares of the firm’s 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 transaction, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction 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 transaction, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. 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. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Argus increased their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $611.00 target price on shares of Parker-Hannifin in a research report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $569.06.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded down $4.91 during mid-day trading on Monday, hitting $500.90. 304,738 shares of the company’s stock traded hands, compared to its average volume of 654,357. 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 firm has a 50 day simple moving average of $531.05 and a two-hundred day simple moving average of $516.21. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The stock has a market cap of $64.39 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 2.09 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.93 EPS. On average, research analysts expect that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is currently 30.73%.

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.