Parker-Hannifin Co. (NYSE:PH) Shares Sold by RFG Advisory LLC

RFG Advisory LLC cut its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 46.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,669 shares of the industrial products company's stock after selling 3,184 shares during the quarter. RFG Advisory LLC's holdings in Parker-Hannifin were worth $2,230,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $40,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the business'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 completion of the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial reduced their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. KeyCorp upped their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a report on Monday. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $719.71.

Parker-Hannifin Stock Performance

Shares of PH traded up $10.05 during mid-day trading on Friday, hitting $672.02. The stock had a trading volume of 387,695 shares, compared to its average volume of 711,186. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $85.87 billion, a PE ratio of 27.82, a PEG ratio of 2.85 and a beta of 1.36. The company's fifty day simple moving average is $615.65 and its two-hundred day simple moving average is $645.90.

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 (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the business posted $6.51 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Parker-Hannifin 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.