Parker-Hannifin Co. (NYSE:PH) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 29.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 286 shares of the industrial products company’s stock after selling 118 shares during the period. Park Place Capital Corp’s holdings in Parker-Hannifin were worth $159,000 at the end of the most recent quarter.

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

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred 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 directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of several research reports. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Raymond James assumed coverage on Parker-Hannifin in a research note on Friday. They issued an “outperform” rating and a $610.00 price target for the company. Bank of America lifted their price target on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Barclays decreased their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $569.06.

Parker-Hannifin Stock Performance

PH stock traded down $4.80 during midday trading on Monday, reaching $501.01. The company had a trading volume of 528,166 shares, compared to its average volume of 656,541. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $531.05 and a 200 day moving average price of $516.21. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The firm has a market capitalization of $64.40 billion, a PE ratio of 23.61, a P/E/G ratio of 2.09 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (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 the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $5.93 earnings per share. Analysts anticipate 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. Stockholders of record on Friday, May 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend 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 dividend yield of 1.30%. Parker-Hannifin’s payout ratio is currently 30.73%.

About Parker-Hannifin

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.