Evermay Wealth Management LLC Sells 23 Shares of Parker-Hannifin Co. (NYSE:PH)

Evermay Wealth Management LLC lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383 shares of the industrial products company’s stock after selling 23 shares during the period. Evermay Wealth Management LLC’s holdings in Parker-Hannifin were worth $194,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sachetta LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. First United Bank & Trust bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $29,000. Harbor Investment Advisory LLC lifted its holdings 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 period. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the 4th quarter valued at $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter valued at $31,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH traded down $18.50 on Tuesday, reaching $581.70. The company had a trading volume of 73,829 shares, compared to its average volume of 655,994. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $601.30. The company has a market cap of $74.77 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 2.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The business has a 50 day simple moving average of $548.86 and a 200 day simple moving average of $541.70.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.08 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.61 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be issued a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.12%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Stifel Nicolaus reduced their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Finally, Evercore ISI lifted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.14.

Insider Buying and Selling

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Company 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.