Parker-Hannifin Corporation (NYSE:PH) Stock Holdings Reduced by Capital A Wealth Management LLC

Capital A Wealth Management LLC trimmed its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 80.3% in the first quarter, according to its most recent 13F filing 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 reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. HUB Investment Partners LLC grew its stake in shares of Parker-Hannifin by 15.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock worth $4,960,000 after purchasing an additional 1,057 shares in the last quarter. SG Americas Securities LLC grew its position in Parker-Hannifin by 27.2% in the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after buying an additional 6,630 shares in the last quarter. Congress Wealth Management LLC DE increased its stake in Parker-Hannifin by 67.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company's stock valued at $29,135,000 after buying an additional 18,503 shares during the period. Alley Investment Management Company LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter worth about $7,996,000. Finally, Washington Trust Bank lifted its stake in shares of Parker-Hannifin by 3,019.5% in the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company's stock worth $9,881,000 after acquiring an additional 15,037 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 1.9%

Parker-Hannifin stock traded up $13.55 during midday trading on Thursday, reaching $723.77. The stock had a trading volume of 261,250 shares, compared to its average volume of 688,513. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $723.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market cap of $92.48 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.05 and a beta of 1.34. The firm's fifty day simple moving average is $677.83 and its two-hundred day simple moving average is $647.31.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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 business had revenue of $4.96 billion during the quarter, compared to analysts' expectations 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 last year, the firm posted $6.51 earnings per share. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal 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 issued a $1.80 dividend. 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 0.99%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on PH. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Evercore ISI boosted their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. 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, Barclays boosted their price target on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $739.12.

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.