Parker-Hannifin Corporation $PH Position Trimmed by Evexia Wealth LLC

Key Points

• Evexia Wealth LLC trimmed its stake in Parker-Hannifin by 18.1% in Q3, selling 3,598 shares and leaving 16,276 shares worth about $11.86M, with institutional investors owning 82.44% of the company.
• Parker-Hannifin beat expectations last quarter with EPS of $7.65 vs. $7.11 and revenue of $5.17B (up 9.1% YoY); analysts hold a consensus "Moderate Buy" with an average price target of $995.37.
• Insiders sold 12,551 shares (~$12.12M) over the past 90 days, and the stock recently opened at $923.01 (down 4.4%), below its 52-week high of $1,034.96.

Evexia Wealth LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 18.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,276 shares of the industrial products company's stock after selling 3,598 shares during the period. Parker-Hannifin accounts for about 3.6% of Evexia Wealth LLC's investment portfolio, making the stock its 10th biggest holding. Evexia Wealth LLC's holdings in Parker-Hannifin were worth $11,860,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC boosted its position in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock worth $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC increased its stake in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock worth $1,759,000 after purchasing an additional 15 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock valued at $484,000 after purchasing an additional 166 shares during the period. Finally, Sivia Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after buying an additional 15 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 4.4%

Shares of PH stock opened at $923.01 on Friday. The company's fifty day simple moving average is $956.00 and its two-hundred day simple moving average is $851.92. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,034.96. The stock has a market cap of $116.50 billion, a P/E ratio of 33.66, a PEG ratio of 3.11 and a beta of 1.23. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business's revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.53 earnings per share. Analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's payout ratio is presently 26.26%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PH shares. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. JPMorgan Chase & Co. increased their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $941.00 to $965.00 and gave the stock a "hold" rating in a report on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $995.37.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the company's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares of the company's stock, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company's stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,551 shares of company stock worth $12,117,502. Company insiders own 0.32% of the company's stock.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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