Parker-Hannifin Co. (NYSE:PH) Shares Sold by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,249 shares of the industrial products company’s stock after selling 110 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Parker-Hannifin were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its stake in shares of Parker-Hannifin by 152.1% during the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after buying an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after purchasing an additional 1,802 shares in the last quarter. Sapient Capital LLC purchased a new position in Parker-Hannifin during the fourth quarter worth $1,392,000. abrdn plc increased its position in Parker-Hannifin by 57.8% during the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $4,068,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. KeyCorp lifted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Barclays lowered their target price 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. Bank of America boosted their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Truist Financial boosted their price objective on shares of Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $576.27.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were 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 directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Jay Reidy sold 572 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction that occurred on 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 directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

PH traded up $7.48 on Monday, reaching $552.13. The company had a trading volume of 517,270 shares, compared to its average volume of 656,842. The company has a fifty day moving average of $524.78 and a 200-day moving average of $523.61. The company has a market capitalization of $70.97 billion, a P/E ratio of 25.90, a PEG ratio of 2.08 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a one year low of $362.49 and a one 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, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm posted $5.93 EPS. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

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 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.