Everpar Advisors LLC Sells 93 Shares of Parker-Hannifin Co. (NYSE:PH)

Everpar Advisors LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,246 shares of the industrial products company’s stock after selling 93 shares during the quarter. Everpar Advisors LLC’s holdings in Parker-Hannifin were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PH. Congress Asset Management Co. grew its position in shares of Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. HUB Investment Partners LLC grew its position in shares of Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after buying an additional 1,057 shares during the last quarter. Congress Wealth Management LLC DE grew its position in shares of Parker-Hannifin by 67.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company’s stock worth $29,135,000 after buying an additional 18,503 shares during the last quarter. Washington Trust Bank grew its position in shares of Parker-Hannifin by 3,019.5% in the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock worth $9,881,000 after buying an additional 15,037 shares during the last quarter. Finally, Ascent Wealth Partners LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $1,216,000. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction 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. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Down 2.0%

Shares of NYSE:PH opened at $653.73 on Friday. The stock has a fifty day simple moving average of $628.39 and a two-hundred day simple moving average of $644.55. The stock has a market capitalization of $83.53 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

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, beating analysts’ consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.51 earnings per share. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.10%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s payout ratio is currently 27.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PH. Truist Financial cut their price objective on 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 dropped their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Citigroup dropped their price target on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a research report on Monday, June 2nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $719.71.

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.