Jaffetilchin Investment Partners LLC Sells 454 Shares of Parker-Hannifin Corporation (NYSE:PH)

Jaffetilchin Investment Partners LLC reduced its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 37.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 772 shares of the industrial products company's stock after selling 454 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Parker-Hannifin were worth $470,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after buying an additional 111,406 shares during the last quarter. Geode Capital Management LLC grew its stake in Parker-Hannifin by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after buying an additional 99,261 shares in the last quarter. Invesco Ltd. raised its holdings in Parker-Hannifin by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after acquiring an additional 198,292 shares during the period. Royal Bank of Canada lifted its position in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after acquiring an additional 1,137,564 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Parker-Hannifin by 9.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock worth $1,282,294,000 after acquiring an additional 172,064 shares during the period. Institutional investors own 82.44% of the company's stock.

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 shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now 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 legal filing with the SEC, which is available at this link. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Trading Down 0.4%

Parker-Hannifin stock traded down $2.89 during mid-day trading on Monday, hitting $697.65. The company's stock had a trading volume of 56,465 shares, compared to its average volume of 693,447. The business has a 50 day moving average price of $648.74 and a 200-day moving average price of $642.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $718.44. The stock has a market cap of $89.14 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 3.27 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the business posted $6.51 EPS. Parker-Hannifin's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current 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 paid a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a report on Monday, June 2nd. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. KeyCorp lifted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.