Parker-Hannifin Co. (NYSE:PH) Stake Cut by Little House Capital LLC

Little House Capital LLC reduced its holdings in Parker-Hannifin Co. (NYSE:PH) by 25.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,942 shares of the industrial products company’s stock after selling 647 shares during the quarter. Little House Capital LLC’s holdings in Parker-Hannifin were worth $1,079,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Harbor Investment Advisory LLC increased its stake in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the period. GoalVest Advisory LLC grew its stake in shares of Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 20 shares in the last quarter. Beaumont Asset Management L.L.C. increased its holdings in shares of Parker-Hannifin by 0.8% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the period. M&R Capital Management Inc. raised its stake in shares of Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 25 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Bank of America raised their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Barclays dropped their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Argus lifted their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company reduced their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $569.06.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $4.91 during trading on Monday, hitting $500.90. 304,738 shares of the company were exchanged, compared to its average volume of 654,357. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $570.15. The company has a market capitalization of $64.39 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 2.09 and a beta of 1.44. The business’s 50 day moving average is $531.05 and its 200-day moving average is $516.21.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.93 earnings per share. Equities analysts forecast that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a dividend of $1.63 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. Parker-Hannifin’s payout ratio is presently 30.73%.

About Parker-Hannifin

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.