Trivium Point Advisory LLC Trims Stake in Parker-Hannifin Corporation $PH

Trivium Point Advisory LLC trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 48.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,556 shares of the industrial products company’s stock after selling 2,386 shares during the quarter. Trivium Point Advisory LLC’s holdings in Parker-Hannifin were worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 0.9% during the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after purchasing an additional 101,476 shares in the last quarter. Procyon Advisors LLC raised its stake in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Invesco Ltd. lifted its holdings in Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after buying an additional 41,221 shares during the period. Ameriprise Financial Inc. boosted its position in Parker-Hannifin by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock valued at $1,533,177,000 after acquiring an additional 92,913 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Parker-Hannifin by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock valued at $1,449,496,000 after acquiring an additional 14,534 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In related news, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,551 shares of company stock valued at $12,117,502 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PH. Stifel Nicolaus raised their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Barclays boosted their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a report on Thursday, January 29th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price objective on the stock. Finally, Argus reiterated a “buy” rating and set a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Price Performance

Shares of PH opened at $1,009.11 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company’s fifty day moving average price is $947.29 and its 200-day moving average price is $843.95. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The firm has a market capitalization of $127.37 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 3.27 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.53 EPS. On average, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.