Diversified Trust Co Reduces Holdings in Parker-Hannifin Co. (NYSE:PH)

Diversified Trust Co reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 76.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 866 shares of the industrial products company’s stock after selling 2,881 shares during the period. Diversified Trust Co’s holdings in Parker-Hannifin were worth $481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC raised its position in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares in the last quarter. GoalVest Advisory LLC boosted its stake in Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 20 shares during the last quarter. Beaumont Asset Management L.L.C. grew its holdings 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 worth $1,415,000 after acquiring an additional 24 shares in the last quarter. M&R Capital Management Inc. increased its position in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 25 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 25 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Parker-Hannifin Stock Up 0.4 %

Parker-Hannifin stock opened at $512.14 on Thursday. The company’s 50-day moving average price is $529.47 and its two-hundred day moving average price is $516.93. The stock has a market cap of $65.83 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.09 and a beta of 1.44. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for 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%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $5.93 EPS. On average, analysts expect that Parker-Hannifin Co. will post 24.85 EPS 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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 30.73%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Raymond James initiated coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 price objective on the stock. 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 report on Thursday, April 11th. Truist Financial lifted their price target on shares of Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Argus increased their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $569.69.

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.