Vista Investment Partners LLC Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Vista Investment Partners LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 2.0% in the first quarter, Holdings Channel.com reports. The fund owned 8,985 shares of the industrial products company’s stock after selling 184 shares during the period. Parker-Hannifin makes up about 1.7% of Vista Investment Partners LLC’s holdings, making the stock its 15th largest holding. Vista Investment Partners LLC’s holdings in Parker-Hannifin were worth $5,462,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PH. Norges Bank acquired a new stake in Parker-Hannifin during the 4th quarter valued at $1,106,132,000. GAMMA Investing LLC boosted its stake in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after acquiring an additional 1,139,265 shares during the last quarter. Royal Bank of Canada raised 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 purchasing an additional 1,137,564 shares during the last quarter. Finally, Capital World Investors purchased a new position in Parker-Hannifin in the 4th quarter valued at about $418,174,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $661.66 on Tuesday. The firm has a 50-day moving average of $631.16 and a two-hundred day moving average of $643.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $84.55 billion, a P/E ratio of 27.39, a PEG ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last released 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 analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the firm posted $6.51 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect 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 was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio is 27.72%.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. 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, May 19th. Barclays lowered their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Stifel Nicolaus upped their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a research note on Monday, June 2nd. Finally, Citigroup reduced their target price 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. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $719.71.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were 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 approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin 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.