Gries Financial LLC Sells 743 Shares of Parker-Hannifin Corporation (NYSE:PH)

Gries Financial LLC decreased its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 20.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,956 shares of the industrial products company's stock after selling 743 shares during the period. Gries Financial LLC's holdings in Parker-Hannifin were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Parker-Hannifin by 0.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after purchasing an additional 55 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Virtu Financial LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth about $732,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth about $749,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred 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 directly owned 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Down 1.5%

Parker-Hannifin stock traded down $10.76 during trading hours on Monday, reaching $711.82. 389,609 shares of the company's stock were exchanged, compared to its average volume of 686,440. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The firm's 50 day simple moving average is $680.98 and its 200 day simple moving average is $648.72. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $727.30. The firm has a market capitalization of $90.96 billion, a PE ratio of 27.41, a PEG ratio of 3.11 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $6.51 EPS. The business's revenue was down 2.2% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.01%. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PH. Morgan Stanley boosted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Citigroup restated a "buy" rating and set a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Truist Financial lowered their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company upped their price objective on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

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.