CENTRAL TRUST Co Lowers Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

CENTRAL TRUST Co cut its position in Parker-Hannifin Co. (NYSE:PH) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,461 shares of the industrial products company’s stock after selling 56 shares during the quarter. CENTRAL TRUST Co’s holdings in Parker-Hannifin were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. Harbor Investment Advisory LLC raised 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 purchasing an additional 20 shares in the last quarter. Sachetta LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the first quarter valued at $31,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $26,000. Finally, First United Bank & Trust purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PH. Mizuho upped their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Evercore ISI boosted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, Stifel Nicolaus raised their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $560.20.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated 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 directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded down $0.80 during midday trading on Wednesday, reaching $546.07. 505,179 shares of the company were exchanged, compared to its average volume of 606,545. The company has a market capitalization of $70.19 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.89 and a beta of 1.51. 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 simple moving average is $549.07 and its 200-day simple moving average is $499.07. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15.

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, topping analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $5.93 earnings per share. On average, analysts anticipate that Parker-Hannifin Co. will post 24.82 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.19%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Parker-Hannifin 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.