Parker-Hannifin Corporation $PH Shares Sold by Evergreen Private Wealth LLC

Evergreen Private Wealth LLC lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,570 shares of the industrial products company’s stock after selling 774 shares during the period. Parker-Hannifin accounts for approximately 1.6% of Evergreen Private Wealth LLC’s portfolio, making the stock its 27th largest position. Evergreen Private Wealth LLC’s holdings in Parker-Hannifin were worth $4,017,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Procyon Advisors LLC boosted its stake in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after acquiring an additional 5,066,179 shares in the last quarter. Bank of America Corp DE boosted its stake in Parker-Hannifin by 0.6% in the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after acquiring an additional 22,706 shares in the last quarter. Capital World Investors boosted its stake in Parker-Hannifin by 7.0% in the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after acquiring an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after acquiring an additional 13,309 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Parker-Hannifin by 0.5% in the third quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company’s stock valued at $619,480,000 after acquiring an additional 4,454 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 in the last 90 days. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 1.9%

NYSE PH opened at $954.08 on Thursday. The stock has a market capitalization of $120.42 billion, a P/E ratio of 34.80, a P/E/G ratio of 3.13 and a beta of 1.25. Parker-Hannifin Corporation has a 52-week low of $576.26 and a 52-week high of $1,034.96. The firm has a 50-day moving average price of $953.27 and a 200 day moving average price of $892.95. 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 (NYSE:PH) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.53 earnings per share. Equities research analysts expect that Parker-Hannifin Corporation will post 30.99 EPS for the current year.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Citigroup increased their target price on shares of Parker-Hannifin from $1,092.00 to $1,137.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,000.60.

Parker-Hannifin 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.