Parker-Hannifin Co. (NYSE:PH) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 21.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,771 shares of the industrial products company's stock after selling 2,376 shares during the period. Parker-Hannifin comprises approximately 0.4% of Fragasso Financial Advisors Inc's investment portfolio, making the stock its 29th biggest holding. Fragasso Financial Advisors Inc's holdings in Parker-Hannifin were worth $5,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC increased its holdings in Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC increased its holdings in Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after buying an additional 15 shares during the period. GenTrust LLC increased its holdings in Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after buying an additional 15 shares during the period. First Manhattan CO. LLC. increased its holdings in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after buying an additional 15 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in Parker-Hannifin by 1.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock valued at $689,000 after buying an additional 16 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated 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 now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PH. Evercore ISI lifted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Morgan Stanley assumed coverage on shares of Parker-Hannifin in a research note on Thursday. They set an "equal weight" rating and a $700.00 price objective for the company. Finally, Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $0.35 during trading hours on Thursday, reaching $665.49. The stock had a trading volume of 212,269 shares, compared to its average volume of 710,580. The stock's 50 day moving average is $614.58 and its 200 day moving average is $646.11. The firm has a market capitalization of $85.03 billion, a PE ratio of 27.55, a PEG ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

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 for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.51 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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

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.