Burney Co. Sells 1,399 Shares of Parker-Hannifin Co. (NYSE:PH)

Burney Co. lessened its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,217 shares of the industrial products company's stock after selling 1,399 shares during the quarter. Parker-Hannifin accounts for approximately 1.2% of Burney Co.'s investment portfolio, making the stock its 14th biggest position. Burney Co.'s holdings in Parker-Hannifin were worth $35,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PH. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Parker-Hannifin by 46.4% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,135 shares of the industrial products company's stock valued at $1,358,000 after purchasing an additional 677 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Parker-Hannifin by 14.1% in the 4th quarter. Park Avenue Securities LLC now owns 8,741 shares of the industrial products company's stock valued at $5,559,000 after acquiring an additional 1,079 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Parker-Hannifin by 176.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock valued at $278,661,000 after acquiring an additional 279,480 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Parker-Hannifin by 9.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,529 shares of the industrial products company's stock worth $972,000 after acquiring an additional 130 shares during the last quarter. Finally, Pines Wealth Management LLC acquired a new position in Parker-Hannifin in the 4th quarter worth about $374,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of PH traded up $9.07 on Wednesday, reaching $656.08. 693,689 shares of the company's stock traded hands, compared to its average volume of 568,586. The stock's 50 day simple moving average is $673.15 and its two-hundred day simple moving average is $616.80. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52-week low of $453.18 and a 52-week high of $712.42. The stock has a market cap of $84.45 billion, a PE ratio of 29.63, a PEG ratio of 2.71 and a beta of 1.45.

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

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % 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. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PH. Argus lifted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. KeyCorp boosted their price objective 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. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Barclays upped their price target on Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $722.94.

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.