CenterBook Partners LP Lowers Stock Holdings in Parker-Hannifin Corporation (NYSE:PH)

CenterBook Partners LP lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 63.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 617 shares of the industrial products company's stock after selling 1,058 shares during the quarter. CenterBook Partners LP's holdings in Parker-Hannifin were worth $375,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PH. First Manhattan CO. LLC. increased its stake in Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after buying an additional 15 shares in the last quarter. Becker Capital Management Inc. increased its stake in Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock worth $307,000 after buying an additional 16 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in Parker-Hannifin by 3.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after buying an additional 16 shares in the last quarter. Citizens National Bank Trust Department increased its stake in Parker-Hannifin by 8.5% during the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock worth $132,000 after buying an additional 17 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Parker-Hannifin by 1.6% during the 1st quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock worth $714,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Down 0.1%

Parker-Hannifin stock traded down $0.73 during midday trading on Friday, reaching $722.53. The company's stock had a trading volume of 485,874 shares, compared to its average volume of 687,283. The business has a 50-day simple moving average of $680.98 and a 200-day simple moving average of $648.50. The company has a market cap of $92.32 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.11 and a beta of 1.34. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $727.30. 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 (NYSE:PH - Get Free Report) last issued 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. The company had revenue of $4.96 billion for 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%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $6.51 earnings per share. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.00%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PH. Morgan Stanley upped their price target 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. Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Wells Fargo & Company upped their price target on Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, KeyCorp increased their price objective 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 assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $739.12.

About Parker-Hannifin

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.