Clifford Swan Investment Counsel LLC Sells 34 Shares of Parker-Hannifin Corporation (NYSE:PH)

Clifford Swan Investment Counsel LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,662 shares of the industrial products company’s stock after selling 34 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Parker-Hannifin were worth $16,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the fourth quarter valued at about $32,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin in the first quarter valued at about $35,000. Finally, Chilton Capital Management LLC boosted its stake in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Truist Financial reduced their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. Evercore ISI upped their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Finally, Barclays upped their target price on Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $739.59.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business’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 directly owned 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $3.60 during trading on Monday, reaching $718.98. The company had a trading volume of 13,467 shares, compared to its average volume of 684,995. The stock has a market capitalization of $91.87 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 3.11 and a beta of 1.34. The company has a fifty day moving average of $680.98 and a two-hundred day moving average of $648.72. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $727.30.

Parker-Hannifin (NYSE:PH) last announced its earnings results 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 company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.51 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. 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. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.00%. Parker-Hannifin’s payout ratio is currently 27.72%.

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.