Parker-Hannifin Corporation (NYSE:PH) Position Lessened by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 29.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,900 shares of the industrial products company's stock after selling 800 shares during the quarter. Intact Investment Management Inc.'s holdings in Parker-Hannifin were worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $1,106,132,000. GAMMA Investing LLC raised its stake in shares of Parker-Hannifin by 66,111.8% during the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after buying an additional 1,732,791 shares during the period. Proficio Capital Partners LLC raised its stake in Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the last quarter. Royal Bank of Canada raised its stake in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares during the last quarter. Finally, Capital World Investors purchased a new stake in Parker-Hannifin in the 4th quarter valued at $418,174,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PH shares. Citigroup lowered their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Trading Up 1.7%

NYSE:PH traded up $11.35 on Monday, hitting $664.08. 477,572 shares of the stock were exchanged, compared to its average volume of 701,721. The stock has a market cap of $84.86 billion, a PE ratio of 25.57, a PEG ratio of 3.04 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $636.98 and a 200-day moving average of $642.20. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results 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 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 quarter in the prior year, the business posted $6.51 earnings per share. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share 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 $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Insider Activity at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was 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 of the company's stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

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.