Bfsg LLC Sells 31 Shares of Parker-Hannifin Corporation (NYSE:PH)

Bfsg LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,678 shares of the industrial products company’s stock after selling 31 shares during the quarter. Bfsg LLC’s holdings in Parker-Hannifin were worth $1,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the 4th quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PH has been the topic of several analyst reports. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. KeyCorp raised their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Barclays dropped their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, Mizuho set a $785.00 target price on Parker-Hannifin in a research note on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $719.71.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Down 1.4%

NYSE:PH opened at $652.36 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The business’s 50-day simple moving average is $632.27 and its 200-day simple moving average is $643.55. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The stock has a market capitalization of $83.36 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 3.09 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm posted $6.51 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a $1.80 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s payout ratio is currently 27.72%.

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.