Financial Security Advisor Inc. Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Financial Security Advisor Inc. lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,179 shares of the industrial products company’s stock after selling 41 shares during the period. Parker-Hannifin accounts for approximately 0.6% of Financial Security Advisor Inc.’s portfolio, making the stock its 28th largest holding. Financial Security Advisor Inc.’s holdings in Parker-Hannifin were worth $1,767,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $26,000. First United Bank & Trust bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $29,000. Harbor Investment Advisory LLC lifted its stake in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James assumed coverage on shares of Parker-Hannifin in a report on Friday. They set an “outperform” rating and a $610.00 price target on the stock. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Barclays cut their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Truist Financial boosted their price target on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Bank of America upped their price target on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $569.69.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $9.02 during trading on Tuesday, reaching $510.03. The company had a trading volume of 542,145 shares, compared to its average volume of 655,633. The business’s 50 day moving average price is $530.28 and its 200-day moving average price is $516.53. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The stock has a market cap of $65.56 billion, a PE ratio of 24.03, a PEG ratio of 2.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87.

Parker-Hannifin (NYSE:PH) last announced its earnings results 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. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.93 earnings per share. Analysts expect that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.28%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly 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 hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s 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 of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, 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.