Parker-Hannifin Co. (NYSE:PH) Stock Position Lessened by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 671 shares of the industrial products company’s stock after selling 23 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Parker-Hannifin were worth $373,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PH. Aigen Investment Management LP acquired a new position in shares of Parker-Hannifin during the third quarter valued at approximately $270,000. CI Investments Inc. boosted its stake in Parker-Hannifin by 26.4% during the 3rd quarter. CI Investments Inc. now owns 2,248 shares of the industrial products company’s stock valued at $876,000 after purchasing an additional 470 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at $183,000. LPL Financial LLC raised its stake in shares of Parker-Hannifin by 21.6% in the 3rd quarter. LPL Financial LLC now owns 102,078 shares of the industrial products company’s stock worth $39,761,000 after buying an additional 18,098 shares in the last quarter. Finally, Mariner LLC lifted its holdings in shares of Parker-Hannifin by 3.7% in the third quarter. Mariner LLC now owns 27,702 shares of the industrial products company’s stock valued at $10,791,000 after buying an additional 991 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Up 0.2 %

Shares of NYSE PH opened at $507.98 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $570.15. The business has a 50-day moving average price of $535.40 and a two-hundred day moving average price of $512.28. The firm has a market capitalization of $65.30 billion, a PE ratio of 23.94, a PEG ratio of 2.03 and a beta of 1.46.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm earned $5.93 EPS. The company’s revenue was up .3% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.28%. Parker-Hannifin’s payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PH shares. Truist Financial reiterated a “buy” rating and issued a $611.00 price target on shares of Parker-Hannifin in a research report on Wednesday, May 15th. Barclays dropped their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company dropped their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $566.33.

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.