Sustainable Insight Capital Management LLC Sells 773 Shares of Parker-Hannifin Co. (NYSE:PH)

Sustainable Insight Capital Management LLC reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,970 shares of the industrial products company’s stock after selling 773 shares during the quarter. Parker-Hannifin comprises approximately 1.4% of Sustainable Insight Capital Management LLC’s holdings, making the stock its 22nd largest position. Sustainable Insight Capital Management LLC’s holdings in Parker-Hannifin were worth $3,161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. West Branch Capital LLC bought a new position in Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank raised its holdings in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the third quarter worth $39,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $679.86 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a market cap of $87.51 billion, a PE ratio of 30.71, a PEG ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 12-month low of $463.16 and a 12-month high of $712.42. The business’s fifty day simple moving average is $669.12 and its 200-day simple moving average is $622.74.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company earned $5.96 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. Parker-Hannifin’s payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PH shares. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective on the stock. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a report on Monday, November 18th. Wells Fargo & Company decreased their price target on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $722.94.

Insider Activity

In related news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last ninety days. 0.39% of the stock is currently owned by 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.