Williams Jones Wealth Management LLC. Has $12.65 Million Position in Parker-Hannifin Co. (NYSE:PH)

Williams Jones Wealth Management LLC. trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,882 shares of the industrial products company’s stock after selling 353 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Parker-Hannifin were worth $12,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Woodline Partners LP bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at $45,966,000. Zimmer Partners LP raised its position in shares of Parker-Hannifin by 61.0% during the fourth quarter. Zimmer Partners LP now owns 42,500 shares of the industrial products company’s stock worth $27,031,000 after purchasing an additional 16,100 shares during the period. Zurich Insurance Group Ltd FI increased its stake in Parker-Hannifin by 20.9% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 4,353 shares of the industrial products company’s stock valued at $2,769,000 after purchasing an additional 753 shares in the last quarter. Vident Advisory LLC raised its holdings in Parker-Hannifin by 9.0% during the fourth quarter. Vident Advisory LLC now owns 3,331 shares of the industrial products company’s stock worth $2,119,000 after buying an additional 276 shares during the last quarter. Finally, Twinbeech Capital LP increased its position in shares of Parker-Hannifin by 4,966.7% during the fourth quarter. Twinbeech Capital LP now owns 83,499 shares of the industrial products company’s stock worth $53,108,000 after acquiring an additional 81,851 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on PH shares. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Evercore ISI lifted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. UBS Group lowered their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Citigroup cut their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $718.44.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

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

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.06%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

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.