Evermay Wealth Management LLC Sells 139 Shares of Parker-Hannifin Co. (NYSE:PH)

Evermay Wealth Management LLC lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 25.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 406 shares of the industrial products company’s stock after selling 139 shares during the quarter. Evermay Wealth Management LLC’s holdings in Parker-Hannifin were worth $226,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PH. Fidelis Capital Partners LLC raised its position in shares of Parker-Hannifin by 2.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after buying an additional 19 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the last quarter. GoalVest Advisory LLC raised its position in Parker-Hannifin by 40.0% during the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 20 shares during the period. Essex Financial Services Inc. lifted its stake in shares of Parker-Hannifin by 4.3% in the 1st quarter. Essex Financial Services Inc. now owns 539 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 22 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its holdings 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 worth $1,415,000 after purchasing an additional 24 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PH. Truist Financial increased their price target on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Stifel Nicolaus dropped their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Bank of America boosted their target price on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $576.27.

Insider Buying and Selling

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

Parker-Hannifin Stock Up 3.0 %

Shares of PH traded up $15.87 during midday trading on Thursday, reaching $545.13. 813,265 shares of the stock were exchanged, compared to its average volume of 662,094. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $524.47 and its two-hundred day moving average is $525.17. The company has a market capitalization of $70.07 billion, a P/E ratio of 25.69, a PEG ratio of 2.11 and a beta of 1.44. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the business earned $5.93 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

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.