Balyasny Asset Management L.P. Lowers Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Balyasny Asset Management L.P. decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 50.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,852 shares of the industrial products company's stock after selling 192,426 shares during the period. Balyasny Asset Management L.P. owned 0.15% of Parker-Hannifin worth $122,024,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin during the 4th quarter worth about $30,000. Bank of New Hampshire purchased a new position in Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $40,000. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PH shares. Evercore ISI lifted their price target on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Citigroup reduced their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. KeyCorp raised their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Argus set a $680.00 price target on Parker-Hannifin in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $710.12.

Parker-Hannifin Price Performance

Shares of PH stock traded up $9.11 during trading hours on Wednesday, reaching $623.03. The company had a trading volume of 663,959 shares, compared to its average volume of 714,629. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market capitalization of $80.20 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 2.85 and a beta of 1.36. The stock has a fifty day moving average of $599.04 and a 200-day moving average of $645.38.

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 analysts' consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company earned $6.51 EPS. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a $1.80 dividend. 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. This represents a $7.20 dividend on an annualized basis and a yield of 1.16%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the business'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 sale, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is 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.