Metis Global Partners LLC Sells 508 Shares of Parker-Hannifin Co. (NYSE:PH)

Metis Global Partners LLC cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,152 shares of the industrial products company’s stock after selling 508 shares during the period. Metis Global Partners LLC’s holdings in Parker-Hannifin were worth $1,913,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Beaumont Asset Management L.L.C. grew its stake in shares of Parker-Hannifin by 0.8% in the 4th 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. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after acquiring an additional 25 shares in the last quarter. M&R Capital Management Inc. lifted its holdings 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 acquiring an additional 25 shares during the period. Private Trust Co. NA boosted its stake in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 25 shares in the last quarter. Finally, Keel Point LLC grew its holdings in shares of Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 25 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

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

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $550.14 on Wednesday. The firm has a fifty day moving average of $545.73 and a two-hundred day moving average of $486.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock has a market capitalization of $70.64 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a 52 week low of $319.14 and a 52 week high of $570.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the company posted $5.93 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.19%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.90%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Mizuho increased their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Argus lifted their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $539.56.

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.