USS Investment Management Ltd Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

USS Investment Management Ltd decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,435 shares of the industrial products company's stock after selling 3,903 shares during the quarter. USS Investment Management Ltd's holdings in Parker-Hannifin were worth $19,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $30,000. Kestra Investment Management LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $40,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the company'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 transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Down 0.2%

Shares of PH stock traded down $1.37 during trading hours on Monday, hitting $655.98. 430,799 shares of the company were exchanged, compared to its average volume of 718,556. The company has a 50 day simple moving average of $609.02 and a two-hundred day simple moving average of $647.39. The firm has a market cap of $83.82 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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 net margin of 15.87% and a return on equity of 27.34%. 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 firm earned $6.51 earnings per share. Parker-Hannifin's revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 1.10%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is 27.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Mizuho set a $785.00 price objective on Parker-Hannifin in a research report on Friday, May 16th. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Four 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, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $718.44.

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.