Chevy Chase Trust Holdings LLC Has $39.66 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Chevy Chase Trust Holdings LLC lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,353 shares of the industrial products company’s stock after selling 452 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Parker-Hannifin worth $39,657,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PH. Commerce Bank boosted its holdings in shares of Parker-Hannifin by 1.5% in the 1st quarter. Commerce Bank now owns 145,270 shares of the industrial products company’s stock valued at $80,740,000 after buying an additional 2,122 shares during the last quarter. Pictet North America Advisors SA acquired a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $1,145,000. Peoples Bank OH acquired a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $236,000. Proficio Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 4.6% in the 1st quarter. Proficio Capital Partners LLC now owns 1,760 shares of the industrial products company’s stock valued at $978,000 after buying an additional 78 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Parker-Hannifin by 92.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 819 shares of the industrial products company’s stock valued at $455,000 after buying an additional 393 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PH shares. Barclays dropped their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Raymond James started coverage on Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 price target on the stock. KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Truist Financial increased their price target on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $550.00 to $650.00 in a research report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $567.81.

Parker-Hannifin Price Performance

NYSE:PH traded up $10.67 during trading hours on Wednesday, hitting $519.35. The company’s stock had a trading volume of 282,117 shares, compared to its average volume of 646,802. The stock has a fifty day simple moving average of $525.46 and a 200-day simple moving average of $518.83. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $570.15. The company has a market capitalization of $66.76 billion, a P/E ratio of 24.54, a PEG ratio of 1.98 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the firm posted $5.93 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.26%. 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. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Transactions at Parker-Hannifin

In other news, 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 transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate 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.