PGGM Investments Sells 600 Shares of Parker-Hannifin Co. (NYSE:PH)

PGGM Investments reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,855 shares of the industrial products company’s stock after selling 600 shares during the quarter. PGGM Investments’ holdings in Parker-Hannifin were worth $10,529,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PH. Unique Wealth Strategies LLC bought a new stake in Parker-Hannifin during the 4th quarter worth about $722,000. Aubrey Capital Management Ltd bought a new stake in Parker-Hannifin during the 4th quarter worth about $2,858,000. Delta Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter worth about $231,000. Citizens Financial Group Inc. RI bought a new stake in Parker-Hannifin during the 4th quarter worth about $261,000. Finally, Golden State Equity Partners lifted its position in Parker-Hannifin by 9.8% during the 4th quarter. Golden State Equity Partners now owns 605 shares of the industrial products company’s stock worth $279,000 after buying an additional 54 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PH shares. KeyCorp boosted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Performance

NYSE PH traded up $4.26 during trading on Friday, reaching $553.64. The company’s stock had a trading volume of 548,739 shares, compared to its average volume of 492,829. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.03 and a beta of 1.52. Parker-Hannifin Co. has a 12 month low of $312.36 and a 12 month high of $570.15. The firm has a 50 day moving average price of $543.27 and a 200 day moving average price of $478.28.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.76 EPS. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 24.3 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 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 29.31%.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

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.