Bank Pictet & Cie Europe AG Sells 591 Shares of Parker-Hannifin Co. (NYSE:PH)

Bank Pictet & Cie Europe AG trimmed its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,668 shares of the industrial products company's stock after selling 591 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Parker-Hannifin were worth $4,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth $32,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the fourth quarter worth about $40,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $7.57 during midday trading on Monday, hitting $661.66. The company's stock had a trading volume of 636,177 shares, compared to its average volume of 704,831. The business's 50 day simple moving average is $628.39 and its 200 day simple moving average is $643.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market cap of $84.55 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the firm posted $6.51 EPS. The business's quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is currently 27.72%.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president now owns 2,083 shares in the company, 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 this hyperlink. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

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

Parker-Hannifin Company 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.