Community Trust & Investment Co. Has $34.24 Million Stake in Parker-Hannifin Corporation $PH

Community Trust & Investment Co. reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,953 shares of the industrial products company’s stock after selling 946 shares during the quarter. Parker-Hannifin makes up 1.8% of Community Trust & Investment Co.’s portfolio, making the stock its 11th largest holding. Community Trust & Investment Co.’s holdings in Parker-Hannifin were worth $34,238,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $29,000. Ameriflex Group Inc. boosted its position in shares of Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares in the last quarter. Morse Asset Management Inc increased its stake in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 28 shares during the period. Finally, Valley Wealth Managers Inc. bought a new stake in Parker-Hannifin in the third quarter valued at about $36,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $906.47 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The firm has a market cap of $114.41 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 2.88 and a beta of 1.23. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,034.96. The company’s 50-day moving average price is $957.53 and its two-hundred day moving average price is $865.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter last year, the business earned $6.53 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research note on Friday, January 30th. iA Financial set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Insider Transactions at Parker-Hannifin

In other news, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction dated 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 completion of the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by company insiders.

About Parker-Hannifin

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.