Annis Gardner Whiting Capital Advisors LLC Trims Position in Parker-Hannifin Co. (NYSE:PH)

Annis Gardner Whiting Capital Advisors LLC cut its position in Parker-Hannifin Co. (NYSE:PH) by 75.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 213 shares of the industrial products company’s stock after selling 648 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Parker-Hannifin were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sapient Capital LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at $1,392,000. abrdn plc grew its stake in Parker-Hannifin by 57.8% during the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after acquiring an additional 20,073 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at $3,305,000. Independent Advisor Alliance grew its stake in Parker-Hannifin by 8.3% during the fourth quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock valued at $7,479,000 after acquiring an additional 1,243 shares in the last quarter. Finally, 17 Capital Partners LLC purchased a new position in Parker-Hannifin during the fourth quarter valued at $2,271,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 2.3 %

PH traded down $12.43 on Thursday, reaching $533.64. 443,019 shares of the company traded hands, compared to its average volume of 604,667. Parker-Hannifin Co. has a one year low of $319.14 and a one year high of $570.15. The firm has a fifty day simple moving average of $549.07 and a two-hundred day simple moving average of $499.07. The company has a market cap of $68.59 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.19 and a beta of 1.51. 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 (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business posted $5.93 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts expect that Parker-Hannifin Co. will post 24.82 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued 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 is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PH. Evercore ISI raised their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Argus increased their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, Barclays lowered their price objective on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $560.20.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction dated Friday, May 3rd. The shares were 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 owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated 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 owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

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.