Parker-Hannifin Co. (NYSE:PH) is Benson Investment Management Company Inc.’s 9th Largest Position

Benson Investment Management Company Inc. boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,244 shares of the industrial products company’s stock after acquiring an additional 120 shares during the period. Parker-Hannifin accounts for 2.4% of Benson Investment Management Company Inc.’s holdings, making the stock its 9th biggest position. Benson Investment Management Company Inc.’s holdings in Parker-Hannifin were worth $5,694,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. Aigen Investment Management LP purchased a new stake in Parker-Hannifin during the third quarter valued at approximately $270,000. CI Investments Inc. increased its stake in Parker-Hannifin by 26.4% during the 3rd quarter. CI Investments Inc. now owns 2,248 shares of the industrial products company’s stock valued at $876,000 after purchasing an additional 470 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Parker-Hannifin during the 3rd quarter valued at approximately $183,000. LPL Financial LLC increased its stake in Parker-Hannifin by 21.6% during the 3rd quarter. LPL Financial LLC now owns 102,078 shares of the industrial products company’s stock valued at $39,761,000 after purchasing an additional 18,098 shares in the last quarter. Finally, Mariner LLC increased its stake in Parker-Hannifin by 3.7% during the 3rd quarter. Mariner LLC now owns 27,702 shares of the industrial products company’s stock valued at $10,791,000 after purchasing an additional 991 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Transactions 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 shares were 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 in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were 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 in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Wells Fargo & Company lowered their price target 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. Finally, Barclays lowered their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $566.33.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $3.83 during midday trading on Friday, hitting $504.16. The company’s stock had a trading volume of 886,938 shares, compared to its average volume of 715,431. The business’s 50 day simple moving average is $534.48 and its 200 day simple moving average is $513.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The company has a market cap of $64.80 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm posted $5.93 earnings per share. On average, analysts forecast that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a $1.63 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) 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.