Parker-Hannifin Co. (NYSE:PH) Stock Holdings Trimmed by Central Bank & Trust Co.

Central Bank & Trust Co. decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.1% in the 1st quarter, HoldingsChannel reports. The firm owned 2,499 shares of the industrial products company’s stock after selling 134 shares during the quarter. Central Bank & Trust Co.’s holdings in Parker-Hannifin were worth $1,519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its stake in shares of Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after acquiring an additional 101 shares during the period. Union Bancaire Privee UBP SA bought a new position in Parker-Hannifin during the 4th quarter valued at $32,781,000. Bleakley Financial Group LLC increased its position in shares of Parker-Hannifin by 2.1% during the 4th quarter. Bleakley Financial Group LLC now owns 2,755 shares of the industrial products company’s stock valued at $1,752,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Parker-Hannifin by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 291,015 shares of the industrial products company’s stock worth $185,094,000 after acquiring an additional 2,472 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $116,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other 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 directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. Evercore ISI lifted their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Barclays cut their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Citigroup dropped their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Argus set a $680.00 price objective on Parker-Hannifin in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.71.

Parker-Hannifin Stock Up 1.5%

PH opened at $672.02 on Friday. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business has a 50 day moving average price of $616.90 and a 200 day moving average price of $645.47. The firm has a market cap of $85.87 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34.

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

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s payout ratio is currently 27.72%.

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.