Brophy Wealth Management LLC Acquires New Holdings in Parker-Hannifin Co. (NYSE:PH)

Brophy Wealth Management LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,144 shares of the industrial products company's stock, valued at approximately $723,000.

Several other institutional investors have also recently made changes to their positions in the business. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $25,000. West Branch Capital LLC acquired a new position in Parker-Hannifin during the third quarter worth approximately $25,000. Bangor Savings Bank boosted its holdings in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at about $39,000. Finally, J.Safra Asset Management Corp acquired a new position in Parker-Hannifin during the second quarter worth about $46,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

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

Parker-Hannifin Stock Down 0.9 %

NYSE PH traded down $6.06 during trading hours on Tuesday, reaching $679.94. 278,370 shares of the company's stock traded hands, compared to its average volume of 633,243. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm has a market cap of $87.52 billion, a PE ratio of 30.84, a PEG ratio of 2.81 and a beta of 1.44. Parker-Hannifin Co. has a 52-week low of $435.77 and a 52-week high of $712.42. The firm has a 50-day simple moving average of $664.54 and a 200 day simple moving average of $592.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.96 earnings per share. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's payout ratio is 29.45%.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent analyst reports. KeyCorp boosted their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Raymond James raised their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Argus raised their price target 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 began coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $704.88.

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.