Evexia Wealth LLC Trims Holdings in Parker-Hannifin Corporation $PH

Evexia Wealth LLC cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,276 shares of the industrial products company’s stock after selling 3,598 shares during the period. Parker-Hannifin accounts for about 3.6% of Evexia Wealth LLC’s portfolio, making the stock its 10th biggest position. Evexia Wealth LLC’s holdings in Parker-Hannifin were worth $11,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. ING Groep NV bought a new position in Parker-Hannifin during the 3rd quarter valued at about $26,398,000. Quadrant Capital Group LLC lifted its stake in Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after purchasing an additional 604 shares during the last quarter. Procyon Advisors LLC boosted its position in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the period. Wilkinson Global Asset Management LLC boosted its position in shares of Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after buying an additional 10,653 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after buying an additional 56,103 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 4.4%

Shares of NYSE:PH opened at $923.01 on Friday. The business’s 50 day moving average is $956.00 and its 200 day moving average is $851.92. The stock has a market cap of $116.50 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 3.11 and a beta of 1.23. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96. 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 issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the company posted $6.53 EPS. Parker-Hannifin’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio is 26.26%.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. Citigroup increased their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Morgan Stanley boosted their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Barclays increased their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Argus reissued a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research note on Monday, November 10th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $995.37.

Insider Activity at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,551 shares of company stock worth $12,117,502 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Profile

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.