Norris Perne & French LLP MI Decreases Holdings in Parker-Hannifin Corporation (NYSE:PH)

Norris Perne & French LLP MI decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 645 shares of the industrial products company’s stock after selling 40 shares during the quarter. Norris Perne & French LLP MI’s holdings in Parker-Hannifin were worth $392,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PH. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at $32,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $652.45 on Thursday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $718.44. The firm has a market cap of $83.37 billion, a P/E ratio of 25.12, a PEG ratio of 3.04 and a beta of 1.34. The stock has a fifty day moving average price of $633.39 and a two-hundred day moving average price of $643.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21.

Parker-Hannifin (NYSE:PH) last issued 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. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. Parker-Hannifin’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.51 EPS. Research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Analyst Ratings Changes

Several research firms have recently commented on PH. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp upped their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Barclays reduced their price target on shares of 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 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $719.71.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin 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.