Parker-Hannifin Co. (NYSE:PH) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC cut its stake in Parker-Hannifin Co. (NYSE:PH) by 6.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,369 shares of the industrial products company’s stock after selling 89 shares during the period. Integrated Advisors Network LLC’s holdings in Parker-Hannifin were worth $871,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Cypress Asset Management Inc. TX bought a new position in Parker-Hannifin during the 4th quarter valued at $2,030,000. Challenger Wealth Management acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $455,000. Ascent Group LLC boosted its stake in Parker-Hannifin by 5.6% during the fourth quarter. Ascent Group LLC now owns 3,697 shares of the industrial products company’s stock valued at $2,351,000 after buying an additional 196 shares in the last quarter. Putney Financial Group LLC acquired a new position in Parker-Hannifin during the fourth quarter worth about $82,000. Finally, AlphaCore Capital LLC acquired a new position in Parker-Hannifin during the fourth quarter worth about $1,183,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH opened at $655.98 on Tuesday. The firm has a market capitalization of $83.82 billion, a P/E ratio of 27.15, a PEG ratio of 2.85 and a beta of 1.36. The stock has a fifty day moving average of $609.54 and a 200-day moving average of $647.12. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business earned $6.51 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PH. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Finally, Argus set a $680.00 price objective on Parker-Hannifin in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $718.44.

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.