Snowden Capital Advisors LLC Decreases Position in Parker-Hannifin Co. (NYSE:PH)

Snowden Capital Advisors LLC reduced its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,653 shares of the industrial products company's stock after selling 690 shares during the period. Snowden Capital Advisors LLC's holdings in Parker-Hannifin were worth $5,503,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $30,000. Kestra Investment Management LLC bought a new position in Parker-Hannifin in the fourth quarter valued at $40,000. Finally, Meeder Asset Management Inc. grew its position in Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 45 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.1%

NYSE PH traded up $0.91 on Tuesday, hitting $680.19. 856,657 shares of the company were exchanged, compared to its average volume of 720,067. The company has a market cap of $86.91 billion, a PE ratio of 28.15, a PEG ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The stock has a fifty day moving average of $604.68 and a 200-day moving average of $647.65. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating 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 analysts' expectations of $4.99 billion. During the same quarter last year, the firm earned $6.51 EPS. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.06%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PH. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Truist Financial dropped their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday. Citigroup decreased their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $718.44.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.