Wealth Quarterback LLC Lowers Holdings in Parker-Hannifin Co. (NYSE:PH)

Wealth Quarterback LLC lowered its position in Parker-Hannifin Co. (NYSE:PH) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,262 shares of the industrial products company’s stock after selling 90 shares during the quarter. Wealth Quarterback LLC’s holdings in Parker-Hannifin were worth $582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pinnbrook Capital Management LP purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $4,303,000. Vinva Investment Management Ltd purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $2,035,000. Morningstar Investment Services LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $337,000. Envestnet Asset Management Inc. raised its position in shares of Parker-Hannifin by 2.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 520,644 shares of the industrial products company’s stock valued at $239,861,000 after buying an additional 14,238 shares in the last quarter. Finally, Exencial Wealth Advisors LLC lifted its holdings in shares of Parker-Hannifin by 32.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 1,950 shares of the industrial products company’s stock worth $898,000 after acquiring an additional 474 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.2 %

NYSE PH traded up $0.92 during trading on Friday, hitting $516.14. The company had a trading volume of 690,566 shares, compared to its average volume of 626,166. The company’s fifty day moving average is $542.94 and its 200-day moving average is $507.06. The company has a market cap of $66.34 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.09 and a beta of 1.46. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a one year low of $350.01 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the business posted $5.93 earnings per share. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that Parker-Hannifin Co. will post 24.84 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be issued a $1.63 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.26%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Wells Fargo & Company dropped their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Argus boosted their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Barclays reduced their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $566.33.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were 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 $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, 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 can be accessed through this link. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.