Schechter Investment Advisors LLC Sells 185 Shares of Parker-Hannifin Corporation (NYSE:PH)

Schechter Investment Advisors LLC decreased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 13.5% during the first quarter, HoldingsChannel reports. The firm owned 1,187 shares of the industrial products company’s stock after selling 185 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Parker-Hannifin were worth $721,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PH. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $32,000. Olde Wealth Management LLC bought a new stake in shares of Parker-Hannifin in the 1st quarter worth approximately $35,000. Finally, Chilton Capital Management LLC boosted its holdings in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 60 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 0.4%

Shares of PH stock opened at $712.31 on Tuesday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $720.90. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average price is $674.22 and its 200-day moving average price is $646.44. The stock has a market capitalization of $91.02 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 3.07 and a beta of 1.34.

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, topping analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.01%. Parker-Hannifin’s payout ratio is 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin 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 sale, the vice president directly owned 2,083 shares of the company’s stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus boosted their target price on Parker-Hannifin from $670.00 to $709.00 and gave the stock a “hold” rating in a report on Friday. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. KeyCorp raised 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. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Barclays raised their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $735.88.

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.