Parker-Hannifin Co. (NYSE:PH) Shares Sold by Graham Capital Management L.P.

Graham Capital Management L.P. reduced its position in Parker-Hannifin Co. (NYSE:PH) by 50.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,100 shares of the industrial products company’s stock after selling 5,179 shares during the period. Graham Capital Management L.P.’s holdings in Parker-Hannifin were worth $3,244,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $40,000. Finally, Meeder Asset Management Inc. increased its position in Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $647.60 on Friday. The stock has a market capitalization of $83.36 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The business’s fifty day moving average price is $598.40 and its 200 day moving average price is $645.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $6.51 EPS. Equities research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date is Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.11%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Evercore ISI increased their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $710.12.

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.