Parker-Hannifin Co. (NYSE:PH) Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,942 shares of the industrial products company’s stock after selling 1,741 shares during the period. Tidal Investments LLC’s holdings in Parker-Hannifin were worth $5,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 15 shares during the last quarter. FFT Wealth Management LLC increased its position in Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 15 shares during the last quarter. GenTrust LLC increased its position in Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the last quarter. First Manhattan CO. LLC. increased its position in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares during the last quarter. Finally, Grove Bank & Trust increased its position in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Up 0.1%

NYSE PH opened at $680.19 on Wednesday. The firm has a 50 day simple moving average of $606.46 and a 200-day simple moving average of $647.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The firm has a market cap of $86.91 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.85 and a beta of 1.36.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.06%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. Parker-Hannifin’s payout ratio is currently 27.72%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PH shares. KeyCorp raised their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. UBS Group dropped their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Citigroup dropped their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Argus set a $680.00 price target on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $718.44.

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.