New Age Alpha Advisors LLC Sells 977 Shares of Parker-Hannifin Corporation $PH

New Age Alpha Advisors LLC lowered its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,003 shares of the industrial products company’s stock after selling 977 shares during the period. New Age Alpha Advisors LLC’s holdings in Parker-Hannifin were worth $5,309,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $29,000. Valley Wealth Managers Inc. acquired a new position in Parker-Hannifin in the third quarter worth about $36,000. State of Wyoming bought a new position in Parker-Hannifin during the second quarter worth about $38,000. Financial Consulate Inc. acquired a new stake in Parker-Hannifin during the third quarter valued at approximately $47,000. Finally, Sagard Holdings Management Inc. acquired a new stake in Parker-Hannifin during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $1,009.11 on Monday. The stock has a 50-day simple moving average of $947.29 and a 200 day simple moving average of $845.17. The stock has a market capitalization of $127.37 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 3.25 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm earned $6.53 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Barclays increased their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $995.37.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 over the last quarter. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.