Private Trust Co. NA Lowers Stake in Parker-Hannifin Co. (NYSE:PH)

Private Trust Co. NA cut its position in shares of Parker-Hannifin Co. (NYSE:PHGet Rating) by 30.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,686 shares of the industrial products company’s stock after selling 2,012 shares during the quarter. Private Trust Co. NA’s holdings in Parker-Hannifin were worth $1,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Dark Forest Capital Management LP purchased a new stake in shares of Parker-Hannifin during the third quarter worth about $129,000. MML Investors Services LLC grew its holdings in shares of Parker-Hannifin by 16.5% during the third quarter. MML Investors Services LLC now owns 3,064 shares of the industrial products company’s stock worth $857,000 after buying an additional 433 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Parker-Hannifin by 11.2% during the third quarter. LPL Financial LLC now owns 29,806 shares of the industrial products company’s stock worth $8,334,000 after buying an additional 2,997 shares in the last quarter. Toroso Investments LLC grew its holdings in shares of Parker-Hannifin by 35.2% during the third quarter. Toroso Investments LLC now owns 1,846 shares of the industrial products company’s stock worth $516,000 after buying an additional 481 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Parker-Hannifin during the third quarter worth about $2,125,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

NYSE PH opened at $243.87 on Thursday. The company’s fifty day simple moving average is $268.14 and its 200-day simple moving average is $289.94. Parker-Hannifin Co. has a 52 week low of $230.44 and a 52 week high of $340.00. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. The stock has a market cap of $31.31 billion, a P/E ratio of 18.86, a PEG ratio of 1.44 and a beta of 1.57.

Parker-Hannifin (NYSE:PHGet Rating) last posted its earnings results on Thursday, May 5th. The industrial products company reported $4.83 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.22. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.11 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 18.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 13th were paid a dividend of $1.33 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.03. The ex-dividend date was Thursday, May 12th. This represents a $5.32 annualized dividend and a yield of 2.18%. Parker-Hannifin’s payout ratio is presently 41.14%.

In other Parker-Hannifin news, Director James L. Wainscott purchased 1,000 shares of the business’s stock in a transaction on Monday, May 9th. The stock was bought at an average cost of $273.44 per share, with a total value of $273,440.00. Following the acquisition, the director now owns 18,280 shares of the company’s stock, valued at $4,998,483.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Wainscott purchased 2,000 shares of the business’s stock in a transaction on Friday, May 6th. The stock was acquired at an average cost of $267.78 per share, with a total value of $535,560.00. Following the completion of the acquisition, the director now directly owns 17,280 shares in the company, valued at approximately $4,627,238.40. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating for the company in a report on Friday, March 4th. StockNews.com assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 31st. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Stifel Nicolaus lowered their target price on shares of Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating for the company in a report on Monday, April 18th. Finally, Mizuho lowered their target price on shares of Parker-Hannifin from $305.00 to $290.00 in a report on Friday, May 6th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $357.85.

About Parker-Hannifin (Get Rating)

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 Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

Further Reading

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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