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

Fermata Advisors LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 29.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 459 shares of the industrial products company’s stock after selling 195 shares during the quarter. Fermata Advisors LLC’s holdings in Parker-Hannifin were worth $279,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PH. Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $1,106,132,000. GAMMA Investing LLC boosted its holdings in shares of Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after buying an additional 1,732,791 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $418,174,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of research reports. Truist Financial lowered their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. KeyCorp raised their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a research report on Monday. Finally, Citigroup lowered their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $719.71.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, 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 position. 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.

Parker-Hannifin Trading Down 0.5%

Shares of PH stock opened at $661.72 on Friday. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The firm has a 50-day moving average price of $615.65 and a 200 day moving average price of $645.90. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $84.55 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.85 and a beta of 1.36.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio is 27.72%.

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.