Anchor Capital Advisors LLC Cuts Stake in Parker-Hannifin Co. (NYSE:PH)

Anchor Capital Advisors LLC decreased its stake in Parker-Hannifin Co. (NYSE:PH) by 4.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,573 shares of the industrial products company’s stock after selling 1,054 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Parker-Hannifin were worth $10,860,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Chase Investment Counsel Corp boosted its holdings in Parker-Hannifin by 1.6% in the 4th quarter. Chase Investment Counsel Corp now owns 1,668 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 27 shares during the period. Choreo LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $244,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Parker-Hannifin in the 4th quarter worth $222,000. Mather Group LLC. boosted its position in Parker-Hannifin by 1.8% in the 4th quarter. Mather Group LLC. now owns 2,545 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 44 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its stake in shares of Parker-Hannifin by 5.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $1.49 on Tuesday, reaching $555.93. 63,905 shares of the company were exchanged, compared to its average volume of 577,905. The company’s 50-day moving average is $543.95 and its two-hundred day moving average is $479.82. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 2.03 and a beta of 1.52. 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 Co. has a 1-year low of $318.32 and a 1-year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm posted $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Insider Buying and Selling at Parker-Hannifin

In related news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 in the last quarter. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Company 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.