Parker-Hannifin Co. (NYSE:PH) Shares Sold by Unio Capital LLC

Unio Capital LLC reduced its position in Parker-Hannifin Co. (NYSE:PH) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,084 shares of the industrial products company’s stock after selling 6,698 shares during the quarter. Parker-Hannifin comprises about 4.6% of Unio Capital LLC’s investment portfolio, making the stock its 14th biggest position. Unio Capital LLC’s holdings in Parker-Hannifin were worth $12,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management raised its stake in shares of Parker-Hannifin by 2.8% in the 4th quarter. Ritholtz Wealth Management now owns 1,514 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 41 shares during the period. Merit Financial Group LLC raised its position in Parker-Hannifin by 78.4% in the fourth quarter. Merit Financial Group LLC now owns 3,544 shares of the industrial products company’s stock valued at $2,254,000 after purchasing an additional 1,557 shares during the period. HB Wealth Management LLC lifted its stake in shares of Parker-Hannifin by 26.0% during the fourth quarter. HB Wealth Management LLC now owns 4,962 shares of the industrial products company’s stock worth $3,156,000 after purchasing an additional 1,024 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in shares of Parker-Hannifin by 63.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 2,675 shares of the industrial products company’s stock worth $1,701,000 after buying an additional 1,036 shares during the period. Finally, Grove Bank & Trust grew its stake in shares of Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Evercore ISI lifted their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday. Finally, KeyCorp increased their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $718.44.

Parker-Hannifin Price Performance

PH opened at $679.71 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $604.68 and its 200 day moving average price is $647.65. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a market cap of $86.85 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $6.51 EPS. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is currently 27.72%.

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.