Parker-Hannifin Co. (NYSE:PH) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,668 shares of the industrial products company’s stock after selling 232 shares during the quarter. Logan Capital Management Inc.’s holdings in Parker-Hannifin were worth $4,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PH. Norges Bank purchased a new position in shares of Parker-Hannifin during the 4th quarter worth about $1,106,132,000. Proficio Capital Partners LLC raised its stake in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after purchasing an additional 1,139,265 shares during the period. Capital World Investors purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $418,174,000. Assenagon Asset Management S.A. increased its holdings in shares of Parker-Hannifin by 176.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company’s stock worth $278,661,000 after buying an additional 279,480 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $175,739,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 3.2%

PH stock opened at $668.41 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $598.95 and a 200-day simple moving average of $645.94. The company has a market capitalization of $85.41 billion, a P/E ratio of 27.67, a PEG ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm earned $6.51 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PH shares. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays decreased their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Finally, StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $710.12.

Parker-Hannifin 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.