Clarius Group LLC Trims Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Clarius Group LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,041 shares of the industrial products company’s stock after selling 58 shares during the quarter. Clarius Group LLC’s holdings in Parker-Hannifin were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC lifted its position in shares of Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after acquiring an additional 15 shares during the period. GenTrust LLC increased its holdings in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 15 shares during the period. First Manhattan CO. LLC. increased its holdings in shares of Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock valued at $1,005,000 after acquiring an additional 15 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of Parker-Hannifin by 1.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company’s stock valued at $689,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.0%

Shares of PH opened at $652.45 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average is $633.39 and its two-hundred day moving average is $643.61. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $718.44. The firm has a market capitalization of $83.37 billion, a P/E ratio of 25.12, a PEG ratio of 3.04 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the business posted $6.51 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. KeyCorp lifted their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Evercore ISI lifted their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Truist Financial cut their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This represents 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 the SEC website. 0.39% of the stock is currently owned by company insiders.

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.