Aspire Private Capital LLC Sells 624 Shares of Parker-Hannifin Corporation (NYSE:PH)

Aspire Private Capital LLC cut its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 25.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,820 shares of the industrial products company's stock after selling 624 shares during the quarter. Aspire Private Capital LLC's holdings in Parker-Hannifin were worth $1,106,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the subject of a number of research reports. KeyCorp raised their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Evercore ISI raised their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Stock Down 0.1%

Shares of PH traded down $0.56 during trading hours on Friday, reaching $651.73. 864,165 shares of the stock traded hands, compared to its average volume of 702,624. 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 stock has a fifty day simple moving average of $636.98 and a 200 day simple moving average of $642.56. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a market cap of $83.28 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 3.04 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the firm earned $6.51 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors 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 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated 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 of the company's stock, valued at approximately $1,292,230.71. The trade was 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 link. 0.39% of the stock is owned by 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.