Parker-Hannifin Co. (NYSE:PH) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,785 shares of the industrial products company’s stock after selling 766 shares during the period. Pathstone Holdings LLC’s holdings in Parker-Hannifin were worth $11,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Kestra Investment Management LLC purchased a new position in Parker-Hannifin in the fourth quarter valued at about $40,000. Finally, Meeder Asset Management Inc. grew its stake in Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 45 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group cut their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus increased their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Finally, Citigroup reduced their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $710.12.

Parker-Hannifin Price Performance

Shares of PH opened at $672.31 on Friday. The firm has a market cap of $85.91 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.85 and a beta of 1.36. The stock has a 50 day moving average of $602.00 and a 200-day moving average of $646.70. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm posted $6.51 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.07%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s payout ratio is currently 27.72%.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

About Parker-Hannifin

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.