Community Trust & Investment Co. Lowers Stake in Parker-Hannifin Co. (NYSE:PH)

Community Trust & Investment Co. cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,352 shares of the industrial products company’s stock after selling 908 shares during the period. Parker-Hannifin makes up 1.8% of Community Trust & Investment Co.’s investment portfolio, making the stock its 12th biggest holding. Community Trust & Investment Co.’s holdings in Parker-Hannifin were worth $21,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC raised its position in Parker-Hannifin by 2.4% in the fourth quarter. SVB Wealth LLC now owns 1,220 shares of the industrial products company’s stock worth $355,000 after acquiring an additional 29 shares in the last quarter. Personal Capital Advisors Corp raised its stake in shares of Parker-Hannifin by 2.6% during the 4th quarter. Personal Capital Advisors Corp now owns 1,166 shares of the industrial products company’s stock worth $339,000 after buying an additional 29 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in Parker-Hannifin by 21.1% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 31 shares during the last quarter. Evoke Wealth LLC increased its holdings in Parker-Hannifin by 2.2% during the 1st quarter. Evoke Wealth LLC now owns 1,562 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 34 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its position in Parker-Hannifin by 3.0% during the first quarter. Daymark Wealth Partners LLC now owns 1,229 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 36 shares during the last quarter. 82.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 863 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $419.47, for a total value of $362,002.61. Following the completion of the transaction, the vice president now owns 2,700 shares in the company, valued at approximately $1,132,569. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Parker-Hannifin news, CFO Todd M. Leombruno sold 5,002 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total value of $2,081,382.22. Following the completion of the sale, the chief financial officer now directly owns 11,656 shares in the company, valued at $4,850,178.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 863 shares of Parker-Hannifin stock in a transaction on Friday, August 4th. The shares were sold at an average price of $419.47, for a total value of $362,002.61. Following the transaction, the vice president now owns 2,700 shares in the company, valued at $1,132,569. The disclosure for this sale can be found here. Insiders have sold a total of 12,918 shares of company stock worth $5,385,885 in the last ninety days. 1.37% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded down $3.75 during trading on Tuesday, reaching $392.11. 81,499 shares of the company’s stock traded hands, compared to its average volume of 834,313. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.51. The company has a 50 day moving average of $406.23 and a 200-day moving average of $363.28. Parker-Hannifin Co. has a 12 month low of $235.69 and a 12 month high of $428.16. The stock has a market capitalization of $50.36 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 EPS for the quarter, beating the consensus estimate of $5.48 by $0.60. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.01 billion. Parker-Hannifin had a return on equity of 29.26% and a net margin of 10.93%. The business’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.16 earnings per share. On average, equities analysts expect that Parker-Hannifin Co. will post 22.65 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 25th. This represents a $5.92 annualized dividend and a dividend yield of 1.51%. Parker-Hannifin’s dividend payout ratio is currently 37.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PH shares. Mizuho increased their target price on Parker-Hannifin from $335.00 to $415.00 in a research report on Friday, July 7th. Argus increased their price target on shares of Parker-Hannifin from $390.00 to $460.00 in a research note on Friday, August 4th. StockNews.com assumed coverage on Parker-Hannifin in a report on Friday, August 18th. They set a “buy” rating for the company. Robert W. Baird upped their price target on Parker-Hannifin from $436.00 to $465.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Barclays increased their price target on Parker-Hannifin from $425.00 to $470.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.29.

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.