Parker-Hannifin Corporation $PH Stake Lowered by Atria Investments Inc

Atria Investments Inc decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,685 shares of the industrial products company’s stock after selling 1,080 shares during the period. Atria Investments Inc’s holdings in Parker-Hannifin were worth $16,441,000 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 PH. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at $29,000. Interchange Capital Partners LLC acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $31,000. Valley Wealth Managers Inc. bought a new position in Parker-Hannifin in the 3rd quarter worth about $36,000. State of Wyoming acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $38,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Parker-Hannifin by 56.1% during the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after buying an additional 23 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 0.5%

Parker-Hannifin stock opened at $996.34 on Thursday. The company has a market capitalization of $125.76 billion, a P/E ratio of 36.34, a P/E/G ratio of 3.20 and a beta of 1.25. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,012.49. The firm’s fifty day simple moving average is $916.02 and its 200-day simple moving average is $820.99. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $6.53 earnings per share. Sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio is 26.26%.

Analyst Ratings Changes

PH has been the topic of several analyst reports. Argus restated a “buy” rating and issued a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a report on Friday, January 30th. Morgan Stanley reiterated a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Barclays boosted their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 2,488 shares of Parker-Hannifin stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $894.81, for a total value of $2,226,287.28. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $11,739,907.20. The trade was a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,825 shares of company stock valued at $5,391,341. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.