Parker-Hannifin Corporation (NYSE:PH) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC cut its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 81.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,470 shares of the industrial products company's stock after selling 6,571 shares during the period. OneDigital Investment Advisors LLC's holdings in Parker-Hannifin were worth $894,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PH. First Manhattan CO. LLC. lifted its position in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 15 shares in the last quarter. Becker Capital Management Inc. raised its position in shares of Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 16 shares during the period. Northwest Wealth Management LLC raised its position in shares of Parker-Hannifin by 3.0% in the fourth quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 17 shares during the period. Citizens National Bank Trust Department raised its position in shares of Parker-Hannifin by 8.5% in the first 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 during the period. Finally, Sunbelt Securities Inc. grew its stake in Parker-Hannifin by 1.6% during the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock valued at $714,000 after acquiring an additional 18 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Finally, Truist Financial reduced their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $723.82.

Parker-Hannifin Stock Performance

NYSE:PH traded up $0.99 during midday trading on Wednesday, hitting $707.91. The company's stock had a trading volume of 377,867 shares, compared to its average volume of 775,817. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $720.90. The firm's 50 day moving average is $666.26 and its 200-day moving average is $644.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market cap of $90.46 billion, a P/E ratio of 27.26, a P/E/G ratio of 3.05 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 net margin of 17.14% and a return on equity of 26.80%. The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the company earned $6.51 EPS. The business's revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate 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. Shareholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred 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 completion of the transaction, the vice president owned 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.39% of the company's stock.

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.