Romano Brothers AND Company Trims Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Romano Brothers AND Company lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 886 shares of the industrial products company’s stock after selling 80 shares during the quarter. Romano Brothers AND Company’s holdings in Parker-Hannifin were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sapient Capital LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $1,392,000. abrdn plc raised its holdings in Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after acquiring an additional 20,073 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $4,068,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $3,305,000. Finally, Independent Advisor Alliance grew its position in shares of Parker-Hannifin by 8.3% in the fourth quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock valued at $7,479,000 after purchasing an additional 1,243 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 the firm’s stock in a transaction that occurred on 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 sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Jay Reidy sold 572 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the business’s 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 directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $505.81 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 1-year low of $362.49 and a 1-year high of $570.15. The company has a market capitalization of $65.02 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.02 and a beta of 1.46. The business has a 50-day moving average of $531.05 and a 200-day moving average of $515.68.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.93 EPS. On average, equities analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PH shares. Bank of America increased their target price on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Wells Fargo & Company cut their price objective on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Barclays decreased 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. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Raymond James began coverage on shares of Parker-Hannifin in a report on Friday. They issued an “outperform” rating and a $610.00 price target on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $569.06.

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.