Raleigh Capital Management Inc. Sells 381 Shares of Parker-Hannifin Corporation (NYSE:PH)

Raleigh Capital Management Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 17.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,804 shares of the industrial products company's stock after selling 381 shares during the quarter. Raleigh Capital Management Inc.'s holdings in Parker-Hannifin were worth $1,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PH. First Manhattan CO. LLC. boosted its stake in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 15 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Parker-Hannifin by 1.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock worth $689,000 after buying an additional 16 shares during the period. Becker Capital Management Inc. boosted its position in Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 3.0% in the 4th quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 17 shares during the period. Finally, Citizens National Bank Trust Department raised its position in shares of Parker-Hannifin by 8.5% in the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock worth $132,000 after acquiring an additional 17 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PH shares. Barclays dropped their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Citigroup cut their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Argus set a $680.00 target price on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Finally, Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $719.41.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president directly owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $719.15 on Monday. The business has a fifty day moving average of $662.00 and a 200 day moving average of $643.86. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $720.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market capitalization of $91.89 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company earned $6.51 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin's payout ratio is currently 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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.