Blair William & Co. IL Trims Position in Parker-Hannifin Co. (NYSE:PH)

Blair William & Co. IL lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,766 shares of the industrial products company’s stock after selling 63 shares during the quarter. Blair William & Co. IL’s holdings in Parker-Hannifin were worth $13,765,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PH. Norges Bank acquired a new stake in Parker-Hannifin during the fourth quarter worth about $665,188,000. Alphinity Investment Management Pty Ltd raised its holdings in Parker-Hannifin by 42.2% in the fourth 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 buying an additional 336,370 shares during the period. Baird Financial Group Inc. lifted its position in Parker-Hannifin by 3.7% during the fourth quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after buying an additional 25,060 shares in the last quarter. Wells Fargo & Company MN grew its stake in Parker-Hannifin by 11.8% during the fourth quarter. Wells Fargo & Company MN now owns 630,306 shares of the industrial products company’s stock worth $290,382,000 after buying an additional 66,331 shares during the period. Finally, AMF Tjanstepension AB increased its position in shares of Parker-Hannifin by 12.9% in the first quarter. AMF Tjanstepension AB now owns 616,400 shares of the industrial products company’s stock worth $342,660,000 after acquiring an additional 70,237 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin 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 sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PH has been the topic of several recent research reports. Argus lifted 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. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. KeyCorp upped their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays dropped their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Raymond James started coverage on shares of Parker-Hannifin in a report on Friday, June 28th. They set an “outperform” rating and a $610.00 price target for the company. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $576.27.

Parker-Hannifin Stock Performance

PH stock traded down $3.02 during trading on Friday, hitting $544.65. 600,474 shares of the company’s stock traded hands, compared to its average volume of 735,546. The stock has a market capitalization of $70.01 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The stock has a fifty day moving average price of $524.78 and a two-hundred day moving average price of $522.65. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share 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 company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.93 EPS. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were given a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.20%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

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.