Trivium Point Advisory LLC Sells 2,386 Shares of Parker-Hannifin Corporation $PH

Trivium Point Advisory LLC reduced its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 48.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,556 shares of the industrial products company’s stock after selling 2,386 shares during the period. Trivium Point Advisory LLC’s holdings in Parker-Hannifin were worth $1,938,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Harvest Portfolios Group Inc. increased its holdings in Parker-Hannifin by 1.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 2,930 shares of the industrial products company’s stock worth $2,221,000 after acquiring an additional 49 shares in the last quarter. Abacus Wealth Partners LLC boosted its position in shares of Parker-Hannifin by 3.5% in the third quarter. Abacus Wealth Partners LLC now owns 592 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 20 shares during the period. Dunhill Financial LLC increased its stake in shares of Parker-Hannifin by 305.0% in the third quarter. Dunhill Financial LLC now owns 81 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 61 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin in the third quarter worth $1,190,000. Finally, Andra AP fonden bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $7,430,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $1,009.11 on Friday. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96. The firm has a market capitalization of $127.37 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 3.27 and a beta of 1.25. The company has a fifty day simple moving average of $947.29 and a two-hundred day simple moving average of $843.95. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $6.53 EPS. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Activity

In related news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,551 shares of company stock worth $12,117,502 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Susquehanna reiterated a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Argus reaffirmed a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Jefferies Financial Group increased their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $995.37.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.