Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 2.6% in the 1st quarter, Holdings Channel reports. The firm owned 1,635 shares of the industrial products company’s stock after selling 43 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Parker-Hannifin were worth $994,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 45 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

PH opened at $693.22 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $718.44. The stock has a market cap of $88.58 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.14 and a beta of 1.34. The stock’s 50 day simple moving average is $645.95 and its 200 day simple moving average is $642.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.51 earnings per share. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Evercore ISI lifted their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock 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 the stock in a transaction 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 sale, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company insiders.

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.