Aspiriant LLC Trims Holdings in Parker-Hannifin Co. (NYSE:PH)

Aspiriant LLC decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 672 shares of the industrial products company’s stock after selling 27 shares during the quarter. Aspiriant LLC’s holdings in Parker-Hannifin were worth $373,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Operose Advisors LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $57,000. O Shaughnessy Asset Management LLC raised its position in Parker-Hannifin by 51.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 7,085 shares of the industrial products company’s stock valued at $2,760,000 after purchasing an additional 2,393 shares during the period. Treasurer of the State of North Carolina raised its position in Parker-Hannifin by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 57,956 shares of the industrial products company’s stock valued at $22,575,000 after purchasing an additional 292 shares during the period. Tower Research Capital LLC TRC raised its position in Parker-Hannifin by 114.4% in the third quarter. Tower Research Capital LLC TRC now owns 7,318 shares of the industrial products company’s stock valued at $2,851,000 after purchasing an additional 3,904 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in Parker-Hannifin in the third quarter valued at $286,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on PH shares. Argus lifted their target price on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Bank of America boosted their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Barclays cut their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Finally, Wells Fargo & Company cut their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $566.33.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’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 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 can be accessed through this hyperlink. In other news, VP Berend Bracht sold 1,079 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was 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 of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Up 0.3 %

NYSE:PH opened at $504.22 on Friday. The stock has a market cap of $64.81 billion, a P/E ratio of 23.76, a P/E/G ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. The stock has a 50-day simple moving average of $532.30 and a 200-day simple moving average of $514.77.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.93 EPS. As a group, analysts anticipate that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. Parker-Hannifin’s dividend payout ratio is 30.73%.

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.