Parker-Hannifin Co. (NYSE:PH) Shares Sold by Farmers Trust Co.

Farmers Trust Co. trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,253 shares of the industrial products company’s stock after selling 36 shares during the quarter. Farmers Trust Co.’s holdings in Parker-Hannifin were worth $3,193,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PH shares. Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Evercore ISI increased their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Mizuho set a $785.00 price objective on Parker-Hannifin in a research note on Friday, May 16th. Finally, Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $718.44.

Parker-Hannifin Stock Performance

NYSE PH opened at $666.97 on Friday. The stock has a market cap of $85.22 billion, a PE ratio of 27.61, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve month high of $718.44. The stock has a fifty day simple moving average of $611.80 and a 200-day simple moving average of $647.12.

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

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.08%. Parker-Hannifin’s dividend payout ratio is currently 27.72%.

Parker-Hannifin 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.