Fort Washington Investment Advisors Inc. OH Sells 401 Shares of Parker-Hannifin Co. (NYSE:PH)

Fort Washington Investment Advisors Inc. OH decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 24.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,243 shares of the industrial products company’s stock after selling 401 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Parker-Hannifin were worth $756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $32,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $40,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $653.73 on Friday. The stock has a market cap of $83.53 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 2.85 and a beta of 1.34. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The stock’s 50-day moving average is $628.39 and its 200 day moving average is $644.55.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Parker-Hannifin’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $6.51 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were paid a $1.80 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s payout ratio is 27.72%.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Morgan Stanley initiated coverage on Parker-Hannifin in a research note on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 target price for the company. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Finally, Barclays dropped their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $719.71.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company’s stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

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.