Evermay Wealth Management LLC Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Evermay Wealth Management LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 25.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 406 shares of the industrial products company’s stock after selling 139 shares during the period. Evermay Wealth Management LLC’s holdings in Parker-Hannifin were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Sachetta LLC bought a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $26,000. First United Bank & Trust bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $29,000. Harbor Investment Advisory LLC lifted its holdings in Parker-Hannifin by 60.6% during the 1st 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. Finally, Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the 4th quarter worth about $30,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Trading Up 3.0 %

PH traded up $15.87 on Thursday, hitting $545.13. 813,265 shares of the company were exchanged, compared to its average volume of 662,094. 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 has a fifty day simple moving average of $524.47 and a two-hundred day simple moving average of $525.17. The stock has a market capitalization of $70.07 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.44. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.93 earnings per share. Sell-side analysts expect that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Argus upped their price target on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Barclays cut their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Stifel Nicolaus lowered their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Truist Financial boosted their target price on Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $576.27.

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.