Parker-Hannifin Co. (NYSE:PH) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lessened its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 24.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,243 shares of the industrial products company's stock after selling 401 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Parker-Hannifin were worth $756,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PH. Ferguson Wellman Capital Management Inc. lifted its position in Parker-Hannifin by 1.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 162,454 shares of the industrial products company's stock valued at $98,748,000 after acquiring an additional 2,385 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Parker-Hannifin by 7.4% in the 1st quarter. Fifth Third Bancorp now owns 160,853 shares of the industrial products company's stock valued at $97,774,000 after purchasing an additional 11,042 shares during the period. Simon Quick Advisors LLC grew its stake in Parker-Hannifin by 29.5% during the 1st quarter. Simon Quick Advisors LLC now owns 768 shares of the industrial products company's stock worth $467,000 after buying an additional 175 shares during the last quarter. Zhang Financial LLC acquired a new position in Parker-Hannifin during the first quarter worth approximately $822,000. Finally, Millburn Ridgefield LLC DE purchased a new stake in Parker-Hannifin in the first quarter valued at approximately $213,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 1.2%

PH stock traded up $7.57 during midday trading on Monday, hitting $661.66. The stock had a trading volume of 636,177 shares, compared to its average volume of 704,832. The company's 50-day moving average price is $628.39 and its 200 day moving average price is $643.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $84.55 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

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 analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $6.51 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin 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 transaction, the vice president now owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research note on Friday, May 16th. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

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.