Gen Wealth Partners Inc Sells 33 Shares of Parker-Hannifin Co. (NYSE:PH)

Gen Wealth Partners Inc lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 13.1% in the fourth quarter, HoldingsChannel reports. The firm owned 219 shares of the industrial products company’s stock after selling 33 shares during the period. Gen Wealth Partners Inc’s holdings in Parker-Hannifin were worth $139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at $30,000. Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter worth $40,000. Finally, Meeder Asset Management Inc. increased its holdings in Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were 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 trade represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $647.60 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $83.36 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 2.85 and a beta of 1.36. The stock’s fifty day moving average price is $598.40 and its two-hundred day moving average price is $645.46. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm posted $6.51 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

Analyst Ratings Changes

Several research firms have recently weighed in on PH. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Barclays reduced their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a research report on Friday, May 2nd. Wolfe Research cut Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, KeyCorp boosted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $710.12.

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.