Ibex Wealth Advisors Reduces Holdings in Parker-Hannifin Co. (NYSE:PH)

Ibex Wealth Advisors trimmed its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 43.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,628 shares of the industrial products company's stock after selling 4,997 shares during the period. Ibex Wealth Advisors' holdings in Parker-Hannifin were worth $4,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PH. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $32,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's 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 now directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

PH stock traded up $0.72 on Wednesday, reaching $671.65. 511,784 shares of the company's stock were exchanged, compared to its average volume of 708,667. The stock has a fifty day moving average of $619.99 and a 200-day moving average of $644.99. The firm has a market cap of $85.82 billion, a PE ratio of 27.80, a P/E/G ratio of 2.85 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $6.51 EPS. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date 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 yield of 1.07%. Parker-Hannifin's dividend payout ratio is 27.72%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Barclays cut their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Truist Financial lowered their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Evercore ISI boosted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin 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.