Bank of Hawaii increased its position in Parker-Hannifin Co. (NYSE:PH – Free Report) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,224 shares of the industrial products company’s stock after purchasing an additional 98 shares during the quarter. Bank of Hawaii’s holdings in Parker-Hannifin were worth $411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PH. Northwest Bancshares Inc. purchased a new position in Parker-Hannifin during the 1st quarter valued at about $227,000. Tilia Fiduciary Partners Inc. boosted its position in Parker-Hannifin by 31.3% during the 1st quarter. Tilia Fiduciary Partners Inc. now owns 1,221 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 291 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at $1,534,000. Pictet Asset Management SA lifted its stake in shares of Parker-Hannifin by 14.0% during the 1st quarter. Pictet Asset Management SA now owns 247,369 shares of the industrial products company’s stock worth $83,143,000 after purchasing an additional 30,445 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Parker-Hannifin during the first quarter valued at about $104,039,000. 81.62% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PH. Mizuho raised their price target on shares of Parker-Hannifin from $335.00 to $415.00 in a report on Friday, July 7th. Morgan Stanley increased their price objective on Parker-Hannifin from $408.00 to $448.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Robert W. Baird boosted their target price on Parker-Hannifin from $436.00 to $465.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Stifel Nicolaus increased their price target on Parker-Hannifin from $383.00 to $446.00 in a research note on Friday, July 14th. Finally, KeyCorp increased their price objective on shares of Parker-Hannifin from $450.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $434.57.

Insider Activity at Parker-Hannifin

In other news, VP William R. Bowman sold 2,403 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $357.65, for a total value of $859,432.95. Following the completion of the sale, the vice president now directly owns 11,152 shares in the company, valued at $3,988,512.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP William R. Bowman sold 2,403 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $357.65, for a total transaction of $859,432.95. Following the completion of the sale, the vice president now directly owns 11,152 shares in the company, valued at $3,988,512.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda S. Harty sold 1,487 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $424.28, for a total value of $630,904.36. Following the sale, the director now directly owns 4,344 shares of the company’s stock, valued at approximately $1,843,072.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,418 shares of company stock valued at $4,104,307. 1.37% of the stock is owned by company insiders.

Parker-Hannifin Stock Down 1.8 %

PH opened at $399.17 on Friday. The company has a fifty day moving average of $393.39 and a two-hundred day moving average of $354.40. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.53 and a beta of 1.52. Parker-Hannifin Co. has a fifty-two week low of $235.69 and a fifty-two week high of $428.16. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.51 and a current ratio of 0.88.

Parker-Hannifin (NYSE:PH – Get Free Report) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 EPS for the quarter, beating analysts’ consensus estimates of $5.48 by $0.60. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Parker-Hannifin had a return on equity of 29.26% and a net margin of 10.93%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm earned $5.16 EPS. On average, research analysts expect that Parker-Hannifin Co. will post 22.51 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.48%. Parker-Hannifin’s dividend payout ratio (DPR) is 37.00%.

About Parker-Hannifin

(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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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