LVW Advisors LLC Invests $484,000 in Parker-Hannifin Co. (NYSE:PH)

LVW Advisors LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 871 shares of the industrial products company’s stock, valued at approximately $484,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. Norges Bank bought a new position in Parker-Hannifin during the 4th quarter valued at about $665,188,000. Alphinity Investment Management Pty Ltd lifted its holdings in Parker-Hannifin by 42.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after purchasing an additional 336,370 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Parker-Hannifin by 3.7% during the 4th quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after purchasing an additional 25,060 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Parker-Hannifin by 11.8% during the 4th quarter. Wells Fargo & Company MN now owns 630,306 shares of the industrial products company’s stock valued at $290,382,000 after purchasing an additional 66,331 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in 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 purchasing an additional 70,237 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of several analyst reports. Bank of America lifted their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Barclays lowered their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Raymond James assumed coverage on shares of Parker-Hannifin in a research report on Friday. They issued an “outperform” rating and a $610.00 price objective for the company. Argus raised their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $569.06.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of Parker-Hannifin 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 transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction 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 owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the business’s 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 completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Down 0.9 %

Parker-Hannifin stock opened at $501.01 on Tuesday. The company’s 50 day simple moving average is $531.05 and its 200 day simple moving average is $516.21. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The firm has a market capitalization of $64.40 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the firm earned $5.93 EPS. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid 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 a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is presently 30.73%.

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.