GTS Securities LLC Cuts Holdings in Parker-Hannifin Co. (NYSE:PH)

GTS Securities LLC lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 87.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 883 shares of the industrial products company's stock after selling 6,299 shares during the period. GTS Securities LLC's holdings in Parker-Hannifin were worth $562,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $32,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $40,000. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent research reports. Argus set a $680.00 target price on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Evercore ISI increased their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Truist Financial reduced their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $718.44.

Insider Transactions at Parker-Hannifin

In related 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 transaction of $93,055.50. Following the completion of the transaction, the vice president now directly 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 document filed with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Down 0.5%

PH traded down $3.38 during trading on Friday, hitting $663.85. The stock had a trading volume of 1,042,542 shares, compared to its average volume of 716,134. The company has a market capitalization of $84.83 billion, a PE ratio of 27.48, a PEG ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a 50 day simple moving average of $612.05 and a two-hundred day simple moving average of $646.47.

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 the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $6.51 earnings per share. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

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.