Parker-Hannifin Co. (NYSE:PH) Stock Holdings Lessened by First Hawaiian Bank

First Hawaiian Bank decreased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,765 shares of the industrial products company's stock after selling 414 shares during the period. First Hawaiian Bank's holdings in Parker-Hannifin were worth $2,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $1,106,132,000. Proficio Capital Partners LLC raised its position in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock worth $725,229,000 after acquiring an additional 1,139,265 shares during the last quarter. Royal Bank of Canada raised its position in Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after acquiring an additional 1,137,564 shares during the last quarter. Capital World Investors acquired a new position in Parker-Hannifin during the fourth quarter worth about $418,174,000. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Parker-Hannifin by 6,912.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Truist Financial cut their price objective on shares of 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 cut their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Finally, Evercore ISI boosted their price target on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $718.44.

Parker-Hannifin Stock Performance

Shares of PH traded down $3.38 during midday trading on Friday, hitting $663.85. 1,042,542 shares of the stock traded hands, compared to its average volume of 716,134. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The firm has a market capitalization of $84.83 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business's 50 day moving average price is $612.05 and its two-hundred day moving average price is $646.88.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its 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. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $6.51 EPS. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is 27.72%.

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.