Parker-Hannifin Co. (NYSE:PH) Stock Holdings Trimmed by Rockland Trust Co.

Rockland Trust Co. cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 950 shares of the industrial products company’s stock after selling 279 shares during the quarter. Rockland Trust Co.’s holdings in Parker-Hannifin were worth $528,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Beaumont Asset Management L.L.C. raised its stake in Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the period. M&R Capital Management Inc. increased its stake in shares of Parker-Hannifin by 25.0% in the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 25 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after acquiring an additional 25 shares during the last quarter. Keel Point LLC increased its stake in shares of Parker-Hannifin by 3.1% in the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 25 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its stake in shares of Parker-Hannifin by 1.8% in the fourth quarter. Great Valley Advisor Group Inc. now owns 1,410 shares of the industrial products company’s stock worth $650,000 after acquiring an additional 25 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated 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 owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Jay Reidy sold 572 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the 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 completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Down 0.8 %

PH stock opened at $504.16 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $570.15. The company has a 50-day moving average of $534.48 and a two-hundred day moving average of $513.28. The stock has a market capitalization of $64.80 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth 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 for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company earned $5.93 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PH shares. Truist Financial reaffirmed a “buy” rating and issued a $611.00 price target on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Bank of America increased their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays lowered their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $550.00 to $650.00 in a research report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $566.33.

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.