Janney Montgomery Scott LLC Lowers Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Janney Montgomery Scott LLC trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,476 shares of the industrial products company's stock after selling 688 shares during the period. Janney Montgomery Scott LLC's holdings in Parker-Hannifin were worth $28,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Millstone Evans Group LLC acquired 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 in the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Stifel Nicolaus increased their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, KeyCorp raised their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Stock Up 0.0%

PH stock traded up $0.24 during midday trading on Thursday, reaching $652.45. 478,188 shares of the company's stock traded hands, compared to its average volume of 702,442. 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 52 week low of $488.45 and a 52 week high of $718.44. The company has a market cap of $83.37 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 3.04 and a beta of 1.34. The firm's fifty day moving average price is $633.39 and its 200-day moving average price is $643.61.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.10%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The stock was 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 now directly owns 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.