Mn Services Vermogensbeheer B.V. Sells 3,000 Shares of Parker-Hannifin Corporation (NYSE:PH)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 47,674 shares of the industrial products company's stock after selling 3,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Parker-Hannifin were worth $28,979,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $32,000. Finally, Kestra Investment Management LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth about $40,000. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PH. Truist Financial cut their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Citigroup cut their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays reduced their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, KeyCorp boosted 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $719.71.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's 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 of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

PH traded up $0.24 during trading on Wednesday, hitting $652.45. The stock had a trading volume of 478,124 shares, compared to its average volume of 702,453. The firm has a market cap of $83.37 billion, a PE ratio of 25.12, a P/E/G ratio of 3.09 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. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a 50 day simple moving average of $632.27 and a 200-day simple moving average of $643.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping 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 business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the company posted $6.51 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin's dividend payout ratio is 27.72%.

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.