Avior Wealth Management LLC Sells 447 Shares of Parker-Hannifin Corporation (NYSE:PH)

Avior Wealth Management LLC trimmed its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 44.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554 shares of the industrial products company's stock after selling 447 shares during the period. Avior Wealth Management LLC's holdings in Parker-Hannifin were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC increased its holdings in Parker-Hannifin by 34.2% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 102 shares of the industrial products company's stock worth $62,000 after purchasing an additional 26 shares in the last quarter. Blue Trust Inc. increased its holdings in Parker-Hannifin by 16.5% during the 1st quarter. Blue Trust Inc. now owns 1,115 shares of the industrial products company's stock worth $678,000 after purchasing an additional 158 shares in the last quarter. Townsend Asset Management Corp NC ADV increased its holdings in Parker-Hannifin by 3.8% during the 1st quarter. Townsend Asset Management Corp NC ADV now owns 6,328 shares of the industrial products company's stock worth $3,846,000 after purchasing an additional 229 shares in the last quarter. Hartford Financial Management Inc. increased its holdings in Parker-Hannifin by 14.5% during the 1st quarter. Hartford Financial Management Inc. now owns 11,486 shares of the industrial products company's stock worth $6,982,000 after purchasing an additional 1,455 shares in the last quarter. Finally, HCR Wealth Advisors increased its holdings in Parker-Hannifin by 32.7% during the 1st quarter. HCR Wealth Advisors now owns 832 shares of the industrial products company's stock worth $506,000 after purchasing an additional 205 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PH. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Citigroup cut their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays cut their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Finally, Morgan Stanley began coverage on Parker-Hannifin in a research note on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Trading Down 0.1%

NYSE:PH opened at $651.73 on Monday. The company has a market cap of $83.28 billion, a P/E ratio of 25.10, a P/E/G ratio of 3.04 and a beta of 1.34. The stock's fifty day moving average price is $636.98 and its two-hundred day moving average price is $642.20. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for 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 business's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.51 earnings per share. As a group, analysts expect 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. Stockholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.10%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.39% of the company's stock.

Parker-Hannifin 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.

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