Parker-Hannifin Co. (NYSE:PH) Position Lessened by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,559 shares of the industrial products company’s stock after selling 27,424 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.41% of Parker-Hannifin worth $244,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Parker-Hannifin during the third quarter worth $25,000. Baystate Wealth Management LLC raised its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new position in Parker-Hannifin during the third quarter valued at about $29,000. First Capital Advisors Group LLC. bought a new position in Parker-Hannifin during the second quarter valued at about $30,000. Finally, Oakworth Capital Inc. raised its holdings in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Down 1.0 %

PH stock opened at $550.32 on Monday. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The company has a market cap of $70.67 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The business’s 50-day simple moving average is $537.77 and its 200 day simple moving average is $468.00. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the business earned $4.76 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s payout ratio is 29.31%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PH shares. Stifel Nicolaus raised their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company raised their target price on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Barclays lifted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $515.38.

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.