Parker-Hannifin Co. (NYSE:PH) Holdings Lowered by First Foundation Advisors

First Foundation Advisors trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 36.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,772 shares of the industrial products company’s stock after selling 1,036 shares during the period. First Foundation Advisors’ holdings in Parker-Hannifin were worth $985,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sachetta LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin in the 4th quarter worth about $26,000. First United Bank & Trust purchased a new stake in Parker-Hannifin in the 4th quarter worth about $29,000. Harbor Investment Advisory LLC lifted its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Parker-Hannifin in the 4th quarter worth about $30,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PH. Bank of America increased their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Wells Fargo & Company cut their price target on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Barclays cut their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Finally, Raymond James assumed coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $576.27.

Parker-Hannifin Stock Down 0.6 %

Shares of NYSE PH traded down $3.02 during mid-day trading on Friday, reaching $544.65. 600,474 shares of the company traded hands, compared to its average volume of 735,546. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock has a market cap of $70.01 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.08 and a beta of 1.44. The company’s fifty day moving average is $524.78 and its two-hundred day moving average is $523.10. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $5.93 EPS. On average, analysts expect that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

About Parker-Hannifin

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.