AdvisorNet Financial Inc Sells 1,073 Shares of Parker-Hannifin Co. (NYSE:PH)

AdvisorNet Financial Inc reduced its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 42.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,431 shares of the industrial products company's stock after selling 1,073 shares during the period. AdvisorNet Financial Inc's holdings in Parker-Hannifin were worth $910,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PH. State Street Corp lifted its position in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. FMR LLC increased its stake in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock valued at $2,600,733,000 after acquiring an additional 272,531 shares during the last quarter. Geode Capital Management LLC increased its stake in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock valued at $1,623,689,000 after acquiring an additional 29,408 shares during the last quarter. Wellington Management Group LLP raised its position in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock valued at $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock worth $1,007,102,000 after purchasing an additional 59,432 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % 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 transaction of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company's stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 in the last quarter. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $656.08 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $673.15 and a 200 day moving average of $616.80. The firm has a market capitalization of $84.45 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a 52 week low of $453.18 and a 52 week high of $712.42.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. KeyCorp lifted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 target price on the stock. in a research report on Monday, November 18th. Finally, StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. 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.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $722.94.

Parker-Hannifin Company 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.