Parker-Hannifin Co. (NYSE:PH) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 27.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,140 shares of the industrial products company’s stock after selling 422 shares during the period. Insigneo Advisory Services LLC’s holdings in Parker-Hannifin were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $30,000. Bank of New Hampshire acquired a new position in Parker-Hannifin during the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $40,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $559.84 on Thursday. 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 business has a 50 day simple moving average of $623.95 and a two-hundred day simple moving average of $649.38. The stock has a market capitalization of $72.06 billion, a P/E ratio of 23.17, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.16%. Parker-Hannifin’s payout ratio is 26.99%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PH shares. Evercore ISI upped their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup dropped their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday. Barclays reduced their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $705.35.

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.