UMB Bank n.a. Sells 13,610 Shares of Parker-Hannifin Co. (NYSE:PH)

UMB Bank n.a. lowered its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 23.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,030 shares of the industrial products company's stock after selling 13,610 shares during the quarter. UMB Bank n.a.'s holdings in Parker-Hannifin were worth $26,764,000 as of its most recent SEC filing.

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

Parker-Hannifin Stock Performance

PH stock opened at $672.02 on Friday. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The firm has a market cap of $85.87 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.85 and a beta of 1.34. The business's fifty day simple moving average is $616.90 and its two-hundred day simple moving average is $645.47. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $6.51 EPS. Analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Evercore ISI upped their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Morgan Stanley began coverage on shares of Parker-Hannifin in a report on Thursday. They issued an "equal weight" rating and a $700.00 price target for the company. Argus set a $680.00 price objective on Parker-Hannifin in a research note on Tuesday, May 6th. Finally, Mizuho set a $785.00 price objective 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $719.71.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the company'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 sale, the vice president now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This 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. 0.39% of the stock is currently owned by company insiders.

About Parker-Hannifin

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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