Parker-Hannifin Co. (NYSE:PH) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 3.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,827 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. Amalgamated Bank’s holdings in Parker-Hannifin were worth $15,123,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in Parker-Hannifin in the 3rd quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin in the 4th quarter valued at $26,000. Baystate Wealth Management LLC boosted its stake in Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares during the last quarter. Oakworth Capital Inc. grew its holdings in shares of Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $42,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 1.0 %

Parker-Hannifin stock traded up $5.50 during midday trading on Friday, reaching $536.18. 874,291 shares of the stock traded hands, compared to its average volume of 606,289. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a market cap of $68.85 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.99 and a beta of 1.51. The company has a 50-day simple moving average of $544.86 and a two-hundred day simple moving average of $481.66. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.93 EPS. Research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Parker-Hannifin’s dividend payout ratio (DPR) is 32.28%.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Evercore ISI boosted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial upped their target price on Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Mizuho raised their price objective on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $523.94.

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.