Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Wealth Alliance LLC

Wealth Alliance LLC reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,089 shares of the industrial products company's stock after selling 1,557 shares during the period. Wealth Alliance LLC's holdings in Parker-Hannifin were worth $662,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the fourth quarter worth approximately $32,000. Olde Wealth Management LLC purchased a new position in Parker-Hannifin in the first quarter worth approximately $35,000. Finally, Chilton Capital Management LLC lifted its stake 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 acquiring an additional 60 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.1%

Shares of PH opened at $722.53 on Monday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $727.30. 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 firm has a market capitalization of $92.32 billion, a P/E ratio of 27.82, a PEG ratio of 3.11 and a beta of 1.34. The firm's 50-day moving average is $680.98 and its two-hundred day moving average is $648.72.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (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 company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm earned $6.51 EPS. The company's revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 1.00%. This is a positive change 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%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Citigroup reissued 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. KeyCorp raised their price objective on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $670.00 to $709.00 and gave the stock a "hold" rating in a report on Friday, July 11th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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 dated 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 owned 2,083 shares of the company's stock, 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. Company insiders own 0.39% of the company's stock.

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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