Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Community Trust & Investment Co.

Community Trust & Investment Co. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.2% during the first quarter, Holdings Channel.com reports. The firm owned 39,719 shares of the industrial products company’s stock after acquiring an additional 70 shares during the period. Parker-Hannifin comprises 1.5% of Community Trust & Investment Co.’s investment portfolio, making the stock its 15th biggest holding. Community Trust & Investment Co.’s holdings in Parker-Hannifin were worth $24,143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after acquiring an additional 111,406 shares during the period. Geode Capital Management LLC grew its stake in Parker-Hannifin by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock valued at $1,699,580,000 after acquiring an additional 99,261 shares during the period. Invesco Ltd. grew its stake in Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock valued at $1,591,810,000 after acquiring an additional 198,292 shares during the period. Royal Bank of Canada grew its stake in 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 acquiring an additional 1,137,564 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock valued at $1,282,294,000 after acquiring an additional 172,064 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 2.0%

NYSE PH opened at $653.73 on Monday. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. 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 business’s fifty day simple moving average is $628.39 and its 200-day simple moving average is $643.77. The firm has a market cap of $83.53 billion, a PE ratio of 27.06, a P/E/G ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 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 business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm earned $6.51 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change 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 equities research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Argus set a $680.00 price target on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Morgan Stanley initiated coverage on shares of Parker-Hannifin in a research note on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 price target on the stock. Stifel Nicolaus raised their price objective on Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Finally, Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $719.71.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

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.