Private Trust Co. NA Sells 539 Shares of Parker-Hannifin Corporation (NYSE:PH)

Private Trust Co. NA trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 18.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,445 shares of the industrial products company’s stock after selling 539 shares during the quarter. Private Trust Co. NA’s holdings in Parker-Hannifin were worth $1,486,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PH. HUB Investment Partners LLC boosted its stake in 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 purchasing an additional 1,057 shares in the last quarter. SG Americas Securities LLC raised its holdings in Parker-Hannifin by 27.2% in the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company’s stock worth $18,850,000 after buying an additional 6,630 shares during the last quarter. Congress Wealth Management LLC DE lifted its stake in shares of Parker-Hannifin by 67.8% in the fourth 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 in the last quarter. Washington Trust Bank increased its position in shares of Parker-Hannifin by 3,019.5% during the fourth quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock valued at $9,881,000 after acquiring an additional 15,037 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Parker-Hannifin by 7.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,294 shares of the industrial products company’s stock worth $42,801,000 after acquiring an additional 4,668 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $719.15 on Friday. The stock has a market cap of $91.89 billion, a P/E ratio of 27.69, a P/E/G ratio of 3.07 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The stock’s fifty day moving average is $659.57 and its 200 day moving average is $643.46. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $720.90.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a $1.80 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PH shares. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Wells Fargo & Company boosted their target price on Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a research report on Tuesday. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Barclays reduced their price target 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. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Five investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $719.41.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president owned 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

About Parker-Hannifin

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.