Parker-Hannifin Co. (NYSE:PH) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,627 shares of the industrial products company’s stock after selling 2,987 shares during the period. Leeward Investments LLC MA’s holdings in Parker-Hannifin were worth $14,243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $665,188,000. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Parker-Hannifin by 42.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after purchasing an additional 336,370 shares during the last quarter. Kodai Capital Management LP acquired a new position in Parker-Hannifin during the 4th quarter valued at approximately $122,449,000. International Assets Investment Management LLC increased its position in Parker-Hannifin by 65,634.7% in the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock worth $101,149,000 after buying an additional 219,220 shares during the period. Finally, iA Global Asset Management Inc. acquired a new stake in Parker-Hannifin in the third quarter worth $58,601,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

NYSE PH traded up $2.69 on Thursday, reaching $512.72. The company’s stock had a trading volume of 439,124 shares, compared to its average volume of 783,722. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $570.15. 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 firm’s 50 day moving average is $528.79 and its two-hundred day moving average is $516.89. The stock has a market cap of $65.91 billion, a PE ratio of 24.16, a PEG ratio of 1.98 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $5.93 EPS. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Activity

In related news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction that occurred on 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 corporate insiders.

Analyst Upgrades and Downgrades

PH has been the subject of several recent research reports. KeyCorp upped their price target 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. Raymond James initiated coverage on shares of Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 price target on the stock. Barclays reduced their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Bank of America raised 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, Wells Fargo & Company reduced their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $569.69.

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.