Parker-Hannifin Co. (NYSE:PH) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc reduced its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,117 shares of the industrial products company's stock after selling 856 shares during the period. Ensign Peak Advisors Inc's holdings in Parker-Hannifin were worth $14,703,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PH. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Parker-Hannifin by 214.3% during the fourth 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 period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 1.0%

Parker-Hannifin stock opened at $647.60 on Monday. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The company's fifty day moving average price is $598.40 and its two-hundred day moving average price is $645.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $83.36 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm posted $6.51 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $1.80 dividend. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PH. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Citigroup decreased their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group lowered their target price 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. Finally, Barclays reduced their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $710.12.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.

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