Cypress Capital Management LLC Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Cypress Capital Management LLC cut its stake in Parker-Hannifin Co. (NYSE:PH) by 15.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,290 shares of the industrial products company’s stock after selling 3,070 shares during the period. Cypress Capital Management LLC’s holdings in Parker-Hannifin were worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new position in Parker-Hannifin in the first quarter worth approximately $25,000. Better Money Decisions LLC purchased a new position in Parker-Hannifin in the first quarter worth approximately $28,000. BDO Wealth Advisors LLC lifted its stake in Parker-Hannifin by 282.1% during the fourth quarter. BDO Wealth Advisors LLC now owns 107 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 79 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin during the first quarter worth $34,000. Finally, Arkadios Wealth Advisors acquired a new position in Parker-Hannifin during the fourth quarter worth $32,000. Institutional investors own 78.88% of the company’s stock.

Shares of PH stock traded down $1.30 during mid-day trading on Friday, hitting $301.86. 5,540 shares of the stock were exchanged, compared to its average volume of 882,934. The firm’s fifty day moving average price is $313.24. The company has a market capitalization of $38.96 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.74 and a beta of 1.79. Parker-Hannifin Co. has a 12-month low of $170.30 and a 12-month high of $324.68. The company has a quick ratio of 1.04, a current ratio of 1.66 and a debt-to-equity ratio of 0.89.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 29th. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.33. Parker-Hannifin had a return on equity of 25.33% and a net margin of 11.34%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company posted $2.92 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that Parker-Hannifin Co. will post 14.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 7th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Thursday, May 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.88. Parker-Hannifin’s dividend payout ratio (DPR) is currently 38.18%.

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Parker-Hannifin from $331.00 to $347.00 and gave the stock a “buy” rating in a research note on Tuesday, April 13th. Citigroup increased their price objective on Parker-Hannifin from $305.00 to $340.00 in a research note on Tuesday, March 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Parker-Hannifin from $305.00 to $340.00 in a research note on Tuesday, March 16th. Zacks Investment Research cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $331.00 price objective on the stock. in a research note on Tuesday, March 16th. Finally, Argus increased their price objective on Parker-Hannifin from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $324.14.

In related news, VP Andrew D. Ross sold 3,928 shares of the firm’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $320.04, for a total transaction of $1,257,117.12. Following the transaction, the vice president now owns 11,497 shares of the company’s stock, valued at $3,679,499.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mark T. Czaja sold 653 shares of the firm’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $310.82, for a total value of $202,965.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,806 shares of company stock worth $9,452,769. Corporate insiders own 1.47% of the company’s stock.

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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