Allworth Financial LP Sells 35 Shares of Parker-Hannifin Co. (NYSE:PH)

Allworth Financial LP lowered its position in Parker-Hannifin Co. (NYSE:PH) by 8.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 370 shares of the industrial products company’s stock after selling 35 shares during the period. Allworth Financial LP’s holdings in Parker-Hannifin were worth $171,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PH. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after acquiring an additional 190,889 shares in the last quarter. FMR LLC increased its stake in Parker-Hannifin by 9.6% in the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Parker-Hannifin by 1.8% during the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after purchasing an additional 52,739 shares during the period. Geode Capital Management LLC boosted its position in shares of Parker-Hannifin by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock worth $884,432,000 after purchasing an additional 58,506 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Parker-Hannifin by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock worth $564,923,000 after acquiring an additional 24,977 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

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 completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is available at 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 completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock worth $6,099,566 over the last ninety days. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PH shares. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research note on Tuesday, December 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Evercore ISI upped their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Barclays raised their target price on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Price Performance

PH stock opened at $555.98 on Friday. The firm has a 50 day simple moving average of $536.97 and a two-hundred day simple moving average of $465.78. The stock has a market cap of $71.39 billion, a PE ratio of 27.52, a P/E/G ratio of 2.08 and a beta of 1.52. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the business earned $4.76 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 24.25 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s payout ratio is currently 29.31%.

About Parker-Hannifin

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.