Williams Jones Wealth Management LLC. Sells 353 Shares of Parker-Hannifin Co. (NYSE:PH)

Williams Jones Wealth Management LLC. cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,882 shares of the industrial products company’s stock after selling 353 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Parker-Hannifin were worth $12,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $1,106,132,000. Proficio Capital Partners LLC grew its holdings in Parker-Hannifin by 116,370.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after acquiring an additional 1,139,265 shares during the last quarter. Royal Bank of Canada increased its position in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after acquiring an additional 1,137,564 shares in the last quarter. Capital World Investors bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $418,174,000. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Parker-Hannifin by 6,912.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company’s stock worth $198,742,000 after purchasing an additional 308,016 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.1%

Shares of NYSE PH opened at $679.71 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company’s fifty day moving average is $604.68 and its 200-day moving average is $647.65. The stock has a market cap of $86.85 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.85 and a beta of 1.36.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.06%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

Analyst Ratings Changes

PH has been the subject of a number of research reports. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Barclays lowered their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $718.44.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by company insiders.

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.