Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,682 shares of the industrial products company's stock after selling 2,576 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Parker-Hannifin were worth $10,140,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after purchasing an additional 111,406 shares during the period. Geode Capital Management LLC grew its holdings in Parker-Hannifin by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after purchasing an additional 99,261 shares during the period. Invesco Ltd. grew its holdings in Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after purchasing an additional 198,292 shares during the period. Royal Bank of Canada lifted its position in Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after buying an additional 172,064 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Argus set a $680.00 price target on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Truist Financial reduced their price target 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. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Morgan Stanley lifted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday. Five 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, the company currently has an average rating of "Moderate Buy" and an average target price of $720.88.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the 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 directly owned 2,083 shares in the company, 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. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Down 0.0%

NYSE PH traded down $0.10 during trading hours on Wednesday, reaching $706.82. 40,544 shares of the company traded hands, compared to its average volume of 696,021. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month 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 stock has a market capitalization of $90.32 billion, a PE ratio of 27.26, a PEG ratio of 3.05 and a beta of 1.34. The company has a 50 day moving average of $666.26 and a two-hundred day moving average of $644.71.

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, 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 firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the firm posted $6.51 EPS. The firm's revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed 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 represents a $7.20 dividend on an annualized basis and a yield of 1.02%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. 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.