Parker-Hannifin Corp (PH) Position Lowered by Exencial Wealth Advisors LLC

Exencial Wealth Advisors LLC trimmed its stake in Parker-Hannifin Corp (NYSE:PH) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 21,954 shares of the industrial products company’s stock after selling 502 shares during the period. Exencial Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $3,768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PH. Dubuque Bank & Trust Co. grew its position in Parker-Hannifin by 97.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 78 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Parker-Hannifin during the 4th quarter worth $26,000. First Mercantile Trust Co. grew its position in Parker-Hannifin by 58.3% during the 4th quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 70 shares during the last quarter. Trustcore Financial Services LLC purchased a new position in Parker-Hannifin during the 1st quarter worth $34,000. Finally, Gemmer Asset Management LLC grew its position in Parker-Hannifin by 162.3% during the 1st quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 125 shares during the last quarter. 81.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PH opened at $166.01 on Wednesday. The stock has a market capitalization of $21.27 billion, a PE ratio of 15.93, a PEG ratio of 1.54 and a beta of 1.46. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a fifty-two week low of $140.82 and a fifty-two week high of $193.19.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.16. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, equities analysts predict that Parker-Hannifin Corp will post 11.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 2.12%. Parker-Hannifin’s payout ratio is presently 33.78%.

In related news, VP Todd M. Leombruno sold 784 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $177.55, for a total value of $139,199.20. Following the completion of the sale, the vice president now owns 2,913 shares in the company, valued at $517,203.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Roger S. Sherrard sold 2,040 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $171.80, for a total transaction of $350,472.00. Following the completion of the sale, the vice president now owns 62,620 shares of the company’s stock, valued at approximately $10,758,116. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,344 shares of company stock worth $1,288,355. Insiders own 1.12% of the company’s stock.

Several brokerages have issued reports on PH. Citigroup raised their price objective on shares of Parker-Hannifin from $178.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $171.00 to $182.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Morgan Stanley set a $179.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a research report on Friday, May 3rd. Robert W. Baird set a $170.00 price objective on shares of Parker-Hannifin and gave the stock a “buy” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Parker-Hannifin currently has an average rating of “Hold” and an average target price of $182.35.

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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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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