OneAscent Financial Services LLC Sells 20 Shares of Parker-Hannifin Co. (NYSE:PH)

OneAscent Financial Services LLC reduced its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,005 shares of the industrial products company’s stock after selling 20 shares during the period. OneAscent Financial Services LLC’s holdings in Parker-Hannifin were worth $559,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PH. Harbor Investment Advisory LLC increased its position in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the period. GoalVest Advisory LLC increased its position in shares of Parker-Hannifin by 40.0% during the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 20 shares during the period. Beaumont Asset Management L.L.C. increased its position in shares of Parker-Hannifin by 0.8% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the period. M&R Capital Management Inc. increased its position in shares of Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares during the period. Finally, Private Trust Co. NA increased its position in shares of Parker-Hannifin by 0.7% during the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 25 shares during the period. 82.44% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Raymond James started coverage on Parker-Hannifin in a research report on Friday. They set an “outperform” rating and a $610.00 price objective on the stock. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Wells Fargo & Company decreased their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. KeyCorp boosted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.06.

Parker-Hannifin Trading Up 0.3 %

Shares of PH opened at $505.81 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15. The firm has a market capitalization of $65.02 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. The stock’s fifty day simple moving average is $531.05 and its 200-day simple moving average is $515.68.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm posted $5.93 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio 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.