Bell Bank Sells 78 Shares of Parker-Hannifin Co. (NYSE:PH)

Bell Bank decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,094 shares of the industrial products company’s stock after selling 78 shares during the period. Bell Bank’s holdings in Parker-Hannifin were worth $665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. Brighton Jones LLC increased its stake in shares of Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $32,781,000. Bank Pictet & Cie Europe AG increased its stake in shares of Parker-Hannifin by 0.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company’s stock valued at $4,617,000 after purchasing an additional 55 shares in the last quarter. Everhart Financial Group Inc. increased its stake in shares of Parker-Hannifin by 1.9% during the fourth quarter. Everhart Financial Group Inc. now owns 968 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 18 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Parker-Hannifin by 19.4% during the fourth quarter. Allworth Financial LP now owns 481 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

PH stock opened at $661.66 on Tuesday. The company has a market cap of $84.55 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock’s fifty day moving average price is $631.16 and its 200-day moving average price is $643.49.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $6.51 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.09%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin’s payout ratio is presently 27.72%.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Barclays lowered their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Morgan Stanley initiated coverage on Parker-Hannifin in a report on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 target price for the company. Finally, Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $719.71.

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.