Lockerman Financial Group Inc. Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Lockerman Financial Group Inc. purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 492 shares of the industrial products company’s stock, valued at approximately $273,000.

Several other large investors have also modified their holdings of PH. Operose Advisors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $57,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Parker-Hannifin by 51.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,085 shares of the industrial products company’s stock valued at $2,760,000 after buying an additional 2,393 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Parker-Hannifin by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 57,956 shares of the industrial products company’s stock valued at $22,575,000 after buying an additional 292 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Parker-Hannifin by 114.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,318 shares of the industrial products company’s stock valued at $2,851,000 after buying an additional 3,904 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $286,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

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 sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the firm’s 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 in the company, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of PH traded up $7.40 during trading hours on Friday, reaching $511.62. The company had a trading volume of 76,423 shares, compared to its average volume of 635,211. The firm has a 50 day simple moving average of $532.30 and a 200-day simple moving average of $514.77. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $65.76 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.01 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 announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion during 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 business’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.93 EPS. Research analysts expect that Parker-Hannifin Co. will post 24.84 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.27%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Analysts Set New Price Targets

PH has been the subject of several research analyst reports. Argus upped their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. TD Cowen upgraded 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 research note on Friday, March 1st. Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Barclays decreased their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Finally, 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 research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $569.06.

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.