Parker-Hannifin Co. (NYSE:PH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 604,411 shares of the industrial products company's stock after selling 19,537 shares during the period. Victory Capital Management Inc. owned approximately 0.47% of Parker-Hannifin worth $278,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PH. Brookstone Capital Management raised its stake in shares of Parker-Hannifin by 0.7% during the 3rd quarter. Brookstone Capital Management now owns 4,262 shares of the industrial products company's stock valued at $1,598,000 after buying an additional 30 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Parker-Hannifin by 3.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 36,377 shares of the industrial products company's stock worth $14,170,000 after purchasing an additional 1,112 shares during the period. Busey Trust CO purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $213,000. Accurate Wealth Management LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $256,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in Parker-Hannifin by 0.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,543 shares of the industrial products company's stock valued at $5,275,000 after buying an additional 104 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp raised their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. The Goldman Sachs Group reissued a "buy" rating and issued a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. TD Cowen raised shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and boosted their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $515.38.

Parker-Hannifin Trading Down 0.4 %

Shares of PH traded down $2.03 during mid-day trading on Wednesday, reaching $542.88. The stock had a trading volume of 903,773 shares, compared to its average volume of 588,362. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The business's fifty day moving average is $544.46 and its 200 day moving average is $480.89. Parker-Hannifin Co. has a 52-week low of $318.32 and a 52-week high of $570.15. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.03 and a beta of 1.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.76 EPS. On average, sell-side analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Parker-Hannifin's dividend payout ratio is currently 29.31%.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,978 shares of the business's stock in a transaction that occurred on 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 sale, the vice president now directly owns 5,465 shares of the company's stock, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares of the company's stock, valued at approximately $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction that occurred on 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 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. In the last ninety days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by insiders.

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.