Bourgeon Capital Management LLC Sells 1,975 Shares of Parker-Hannifin Co. (NYSE:PH)

Bourgeon Capital Management LLC lessened its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 42.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,675 shares of the industrial products company's stock after selling 1,975 shares during the period. Bourgeon Capital Management LLC's holdings in Parker-Hannifin were worth $1,232,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PH. Cetera Advisor Networks LLC boosted its holdings in shares of Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company's stock valued at $425,000 after buying an additional 112 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company's stock valued at $1,098,000 after buying an additional 1,591 shares in the last quarter. Prudential PLC acquired a new stake in Parker-Hannifin in the 1st quarter worth approximately $687,000. Moors & Cabot Inc. boosted its stake in Parker-Hannifin by 270.8% in the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company's stock worth $771,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company's stock worth $2,794,892,000 after purchasing an additional 190,889 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.3 %

NYSE:PH traded down $6.95 during mid-day trading on Monday, hitting $543.37. The stock had a trading volume of 671,280 shares, compared to its average volume of 592,047. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The stock has a 50-day simple moving average of $537.77 and a two-hundred day simple moving average of $468.00. The company has a market capitalization of $69.77 billion, a PE ratio of 26.90, a PEG ratio of 2.01 and a beta of 1.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the company earned $4.76 earnings per share. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin's dividend payout ratio (DPR) is 29.31%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the business's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company's stock, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the business's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares of the company's stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock worth $6,099,566 in the last three months. Insiders own 1.03% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on PH. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. Truist Financial began coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They issued a "buy" rating and a $602.00 target price for the company. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. TD Cowen raised shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Barclays upped their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $515.38.

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.