Astoria Portfolio Advisors LLC. Sells 457 Shares of Parker-Hannifin Corporation (NYSE:PH)

Astoria Portfolio Advisors LLC. lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 633 shares of the industrial products company's stock after selling 457 shares during the quarter. Astoria Portfolio Advisors LLC.'s holdings in Parker-Hannifin were worth $368,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PH. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at $32,000. Meeder Asset Management Inc. lifted its position in Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock worth $42,000 after buying an additional 45 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Parker-Hannifin during the 4th quarter worth about $48,000. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PH. Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. KeyCorp increased their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Barclays decreased their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Truist Financial dropped their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.41.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $8.27 during midday trading on Wednesday, hitting $711.55. The stock had a trading volume of 447,645 shares, compared to its average volume of 697,022. The company's 50-day moving average price is $654.51 and its 200-day moving average price is $642.67. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $90.92 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 3.26 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $6.51 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is 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.