Wolf Group Capital Advisors Cuts Holdings in Parker-Hannifin Corporation (NYSE:PH)

Wolf Group Capital Advisors cut its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,938 shares of the industrial products company's stock after selling 1,248 shares during the quarter. Wolf Group Capital Advisors' holdings in Parker-Hannifin were worth $2,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $32,000. Finally, Kestra Investment Management LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $0.24 during midday trading on Thursday, hitting $652.45. The company's stock had a trading volume of 478,188 shares, compared to its average volume of 702,442. The stock has a fifty day moving average price of $633.39 and a 200 day moving average price of $643.61. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $718.44. 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 $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.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The business 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%. Parker-Hannifin's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.51 EPS. On average, research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is 27.72%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 owns 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on PH. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 price objective on the stock. KeyCorp lifted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Barclays lowered their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Evercore ISI lifted 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. Five research 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

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.