Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lowered its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,141 shares of the industrial products company's stock after selling 496 shares during the period. Montag A & Associates Inc.'s holdings in Parker-Hannifin were worth $11,027,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $32,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin in the first quarter worth about $35,000. Finally, Chilton Capital Management LLC lifted its holdings in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

PH has been the topic of several recent analyst reports. Citigroup restated a "buy" rating and set a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Mizuho set a $785.00 price objective on Parker-Hannifin in a research report on Friday, May 16th. Morgan Stanley increased their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $739.12.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was 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 of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $722.53 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $727.30. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The business's 50-day moving average price is $680.98 and its two-hundred day moving average price is $648.59. The stock has a market cap of $92.32 billion, a PE ratio of 27.82, a P/E/G ratio of 3.11 and a beta of 1.34.

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, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business posted $6.51 earnings per share. The business's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.00%. Parker-Hannifin's payout ratio is 27.72%.

Parker-Hannifin Company 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.

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