C WorldWide Group Holding A S lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 639,005 shares of the industrial products company's stock after selling 5,897 shares during the period. Parker-Hannifin comprises about 4.8% of C WorldWide Group Holding A S's holdings, making the stock its 7th largest holding. C WorldWide Group Holding A S owned approximately 0.50% of Parker-Hannifin worth $388,419,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after buying an additional 101 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Parker-Hannifin by 0.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after buying an additional 55 shares in the last quarter. Proficio Capital Partners LLC increased its position in Parker-Hannifin by 83.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,793 shares of the industrial products company's stock valued at $1,140,000 after buying an additional 814 shares in the last quarter. Horizon Investments LLC increased its position in Parker-Hannifin by 1.4% during the 4th quarter. Horizon Investments LLC now owns 2,115 shares of the industrial products company's stock valued at $1,342,000 after buying an additional 30 shares in the last quarter. Finally, Brooklyn FI LLC bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $636,000. Institutional investors own 82.44% of the company's stock.
Analysts Set New Price Targets
PH has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Barclays raised their price objective on Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $670.00 to $709.00 and gave the stock a "hold" rating in a report on Friday, July 11th. KeyCorp lifted their target price on Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.12.
Read Our Latest Analysis on PH
Insider Activity at Parker-Hannifin
In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company's stock.
Parker-Hannifin Stock Performance
Shares of PH traded down $2.37 during trading hours on Friday, hitting $720.89. The stock had a trading volume of 62,790 shares, compared to its average volume of 686,157. 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 Corporation has a 12 month low of $488.45 and a 12 month high of $736.75. The firm has a market capitalization of $92.12 billion, a PE ratio of 27.77, a PEG ratio of 3.05 and a beta of 1.34. The stock has a fifty day moving average price of $679.48 and a 200 day moving average price of $647.91.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.51 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.
Parker-Hannifin Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.00%. Parker-Hannifin's dividend payout ratio is currently 27.72%.
Parker-Hannifin Profile
(
Free Report)
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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