Pines Wealth Management LLC Invests $374,000 in Parker-Hannifin Co. (NYSE:PH)

Pines Wealth Management LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 594 shares of the industrial products company's stock, valued at approximately $374,000.

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

Parker-Hannifin Stock Performance

PH traded up $1.65 during trading hours on Thursday, hitting $657.97. 295,720 shares of the stock were exchanged, compared to its average volume of 539,227. The stock has a market cap of $84.69 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. The stock has a 50-day simple moving average of $673.15 and a 200-day simple moving average of $616.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a 12 month low of $453.18 and a 12 month high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. Parker-Hannifin's payout ratio is currently 29.45%.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Barclays lifted their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Mizuho boosted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a "buy" rating and a $842.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus price target of $722.94.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. This trade represents a 12.74 % 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 three months. Company insiders own 0.39% of the company's stock.

About Parker-Hannifin

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.