Nisa Investment Advisors LLC Decreases Position in Parker-Hannifin Corporation (NYSE:PH)

Nisa Investment Advisors LLC decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,565 shares of the industrial products company’s stock after selling 101 shares during the period. Nisa Investment Advisors LLC’s holdings in Parker-Hannifin were worth $25,265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. First Manhattan CO. LLC. boosted its position in shares of Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after buying an additional 15 shares during the period. Becker Capital Management Inc. boosted its holdings in Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 16 shares during the last quarter. Northwest Wealth Management LLC boosted its holdings in Parker-Hannifin by 3.0% in the fourth quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 17 shares during the last quarter. Citizens National Bank Trust Department boosted its holdings in Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 17 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Parker-Hannifin by 1.6% in the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company’s stock valued at $714,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.1%

PH opened at $707.91 on Thursday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $720.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The stock has a market cap of $90.46 billion, a P/E ratio of 27.26, a P/E/G ratio of 3.04 and a beta of 1.34. The stock’s 50 day moving average price is $668.34 and its 200 day moving average price is $645.14.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the firm earned $6.51 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. KeyCorp increased their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company increased their target price on Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Truist Financial dropped their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $723.82.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

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.