Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Saturna Capital Corp

Saturna Capital Corp lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 16.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 420 shares of the industrial products company’s stock after selling 80 shares during the quarter. Saturna Capital Corp’s holdings in Parker-Hannifin were worth $255,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $32,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin in the 1st quarter valued at about $35,000. Finally, Chilton Capital Management LLC grew its stake in Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays increased their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Wolfe Research lowered shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Morgan Stanley upped their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, Evercore ISI upped 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. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $739.12.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the 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 transaction, the vice president directly owned 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 1.9%

Shares of PH stock opened at $723.47 on Friday. The company has a market cap of $92.45 billion, a P/E ratio of 27.86, a PEG ratio of 3.05 and a beta of 1.34. The stock has a 50 day simple moving average of $679.48 and a two-hundred day simple moving average of $647.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $736.75.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. The firm 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 26.80% and a net margin of 17.14%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $6.51 earnings per share. Research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

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

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.