Leeward Investments LLC MA reduced its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 22.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,662 shares of the industrial products company's stock after selling 4,185 shares during the period. Leeward Investments LLC MA's holdings in Parker-Hannifin were worth $8,912,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. First Manhattan CO. LLC. lifted its holdings in Parker-Hannifin by 1.0% during the 4th 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 in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Parker-Hannifin by 1.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock worth $689,000 after acquiring an additional 16 shares in the last quarter. Becker Capital Management Inc. raised its stake in shares of Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock worth $307,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC raised its stake in shares of Parker-Hannifin by 3.0% during the 4th quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company's stock worth $367,000 after acquiring an additional 17 shares in the last quarter. Finally, Citizens National Bank Trust Department increased its stake in Parker-Hannifin by 8.5% during the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after purchasing an additional 17 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Parker-Hannifin
In other 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 transaction, the vice president owned 2,083 shares of the company's stock, valued at $1,292,230.71. This 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. Company insiders own 0.39% of the company's stock.
Parker-Hannifin Price Performance
Shares of NYSE:PH traded up $7.69 on Friday, reaching $719.15. 360,526 shares of the company were exchanged, compared to its average volume of 697,327. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $720.90. 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 company has a 50-day moving average of $659.57 and a 200-day moving average of $643.46. The firm has a market cap of $91.89 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.51 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's dividend payout ratio is 27.72%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Evercore ISI increased 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. Argus set a $680.00 target price on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research report on Tuesday. Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, KeyCorp upped their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $719.41.
Check Out Our Latest Report on PH
Parker-Hannifin Company Profile
(
Free Report)
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.
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