ZWJ Investment Counsel Inc. Sells 400 Shares of Parker-Hannifin Co. (NYSE:PH)

ZWJ Investment Counsel Inc. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 40.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600 shares of the industrial products company’s stock after selling 400 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Parker-Hannifin were worth $276,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management bought a new position in Parker-Hannifin during the 3rd quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $26,000. Baystate Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the period. First Capital Advisors Group LLC. bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $30,000. Finally, Oakworth Capital Inc. boosted its holdings in Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 0.6 %

NYSE:PH traded down $3.44 during mid-day trading on Friday, hitting $534.65. 557,975 shares of the company’s stock traded hands, compared to its average volume of 477,044. The company has a fifty day moving average of $540.36 and a 200 day moving average of $472.15. The company has a market capitalization of $68.65 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.97 and a beta of 1.52. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.76 EPS. On average, analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

Analyst Ratings Changes

Several analysts have recently weighed in on PH shares. The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Truist Financial assumed coverage on Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective for the company. Evercore ISI increased their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays boosted their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by company insiders.

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.