Parker-Hannifin Co. (NYSE:PH) Stake Reduced by Graham Capital Management L.P.

Graham Capital Management L.P. decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 50.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,100 shares of the industrial products company’s stock after selling 5,179 shares during the period. Graham Capital Management L.P.’s holdings in Parker-Hannifin were worth $3,244,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PH. Diversified Trust Co boosted its stake in shares of Parker-Hannifin by 4.0% during the 4th quarter. Diversified Trust Co now owns 1,017 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 39 shares in the last quarter. Fulton Bank N.A. acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $298,000. Wealth Enhancement Advisory Services LLC increased its stake in Parker-Hannifin by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,866 shares of the industrial products company’s stock worth $17,606,000 after purchasing an additional 113 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $83,000. Finally, LVM Capital Management Ltd. MI purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $222,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH opened at $647.60 on Friday. The firm has a market cap of $83.36 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The stock’s 50-day moving average is $598.40 and its two-hundred day moving average is $645.46. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last posted 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 return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the company earned $6.51 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PH shares. Citigroup cut their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus increased their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $710.12.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction 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 owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company’s stock.

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.