Cambridge Investment Research Advisors Inc. Sells 596 Shares of Parker-Hannifin Corporation (NYSE:PH)

Cambridge Investment Research Advisors Inc. lowered its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,104 shares of the industrial products company's stock after selling 596 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Parker-Hannifin were worth $8,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PH. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $32,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Parker-Hannifin by 214.3% in the fourth 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 during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 0.1%

PH opened at $674.34 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $718.44. The stock has a market cap of $86.17 billion, a PE ratio of 25.97, a PEG ratio of 3.15 and a beta of 1.34. The business has a 50 day moving average of $643.31 and a 200-day moving average of $642.43.

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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the firm posted $6.51 earnings per share. The company's revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. 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 1.07%. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial reduced their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI increased their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Morgan Stanley started coverage on shares of Parker-Hannifin in a report on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 target price on the stock. Citigroup decreased their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Argus set a $680.00 price target on shares of Parker-Hannifin in a research report 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. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus price target of $719.71.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the company's 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 transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company's stock.

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.

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