BCS Wealth Management Sells 122 Shares of Parker-Hannifin Co. (NYSE:PH)

BCS Wealth Management lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,099 shares of the industrial products company’s stock after selling 122 shares during the period. BCS Wealth Management’s holdings in Parker-Hannifin were worth $1,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. boosted its holdings in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after purchasing an additional 25,605 shares during the last quarter. HUB Investment Partners LLC lifted its holdings in shares of Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock valued at $4,960,000 after acquiring an additional 1,057 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in shares of Parker-Hannifin by 67.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company’s stock valued at $29,135,000 after acquiring an additional 18,503 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Parker-Hannifin by 3,019.5% in the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock valued at $9,881,000 after acquiring an additional 15,037 shares during the last quarter. Finally, Ascent Wealth Partners LLC bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $1,216,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Evercore ISI increased their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. KeyCorp increased their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $719.71.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $672.02 on Friday. The firm has a market cap of $85.87 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The firm’s 50 day simple moving average is $616.90 and its 200-day simple moving average is $645.47. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. 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 (NYSE:PH) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $6.51 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.07%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

Insider Activity at Parker-Hannifin

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 transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company’s stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.

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.