Capital A Wealth Management LLC Sells 1,446 Shares of Parker-Hannifin Corporation (NYSE:PH)

Capital A Wealth Management LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 80.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 355 shares of the industrial products company's stock after selling 1,446 shares during the quarter. Capital A Wealth Management LLC's holdings in Parker-Hannifin were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $32,000. Olde Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the first quarter worth approximately $35,000. Finally, Chilton Capital Management LLC boosted its position in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analyst Weigh In

PH has been the subject of several analyst reports. Mizuho set a $785.00 price objective on Parker-Hannifin in a research report on Friday, May 16th. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Barclays upped their target price on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, KeyCorp upped their target price on Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $739.12.

Parker-Hannifin Stock Down 0.2%

NYSE:PH traded down $1.36 during trading hours on Friday, reaching $721.91. The company's stock had a trading volume of 125,374 shares, compared to its average volume of 686,460. 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 one year low of $488.45 and a one year high of $736.75. The business's 50-day moving average is $679.48 and its 200-day moving average is $647.91. The company has a market cap of $92.25 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 3.05 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company 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 company earned $6.51 earnings per share. The business's quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is presently 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 value of $93,055.50. Following the completion of the transaction, the vice president owned 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 document filed with the SEC, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

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.