Oak Thistle LLC Decreases Stake in Parker-Hannifin Co. (NYSE:PH)

Oak Thistle LLC lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 77.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 635 shares of the industrial products company’s stock after selling 2,226 shares during the quarter. Oak Thistle LLC’s holdings in Parker-Hannifin were worth $353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sachetta LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $26,000. First United Bank & Trust acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $29,000. Harbor Investment Advisory LLC boosted its holdings in Parker-Hannifin by 60.6% in 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 last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.9 %

Shares of PH stock opened at $501.01 on Tuesday. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. 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 fifty day moving average of $531.05 and a two-hundred day moving average of $516.21. The firm has a market capitalization of $64.40 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.09 and a beta of 1.44.

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

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 30.73%.

Insider Buying and Selling

In other news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction on Monday, May 6th. The shares were 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 owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of research analyst reports. KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Raymond James started coverage on Parker-Hannifin in a research note on Friday. They set an “outperform” rating and a $610.00 price objective on the stock. Argus lifted their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $569.69.

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.