Mathes Company Inc. Sells 1,306 Shares of Parker-Hannifin Corporation (NYSE:PH)

Mathes Company Inc. cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 14.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,858 shares of the industrial products company's stock after selling 1,306 shares during the quarter. Parker-Hannifin accounts for about 1.9% of Mathes Company Inc.'s portfolio, making the stock its 16th largest position. Mathes Company Inc.'s holdings in Parker-Hannifin were worth $4,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PH. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $32,000. Olde Wealth Management LLC bought a new stake in Parker-Hannifin during the 1st quarter worth approximately $35,000. Finally, Chilton Capital Management LLC grew its holdings in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after acquiring an additional 60 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 0.1%

Parker-Hannifin stock opened at $715.13 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $720.90. The firm's fifty day moving average is $672.33 and its 200 day moving average is $646.05. The company has a market capitalization of $91.38 billion, a PE ratio of 27.54, a PEG ratio of 3.07 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 EPS. Parker-Hannifin's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.01%. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's stock in a transaction 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 transaction, the vice president owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PH. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $670.00 to $709.00 and gave the stock a "hold" rating in a report on Friday. Evercore ISI upped their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. 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 research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $726.12.

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.

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