Merit Financial Group LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Merit Financial Group LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 78.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,544 shares of the industrial products company's stock after acquiring an additional 1,557 shares during the quarter. Merit Financial Group LLC's holdings in Parker-Hannifin were worth $2,254,000 as of its most recent SEC filing.

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

Parker-Hannifin Price Performance

PH stock traded up $12.09 during mid-day trading on Monday, reaching $670.75. The company's stock had a trading volume of 728,894 shares, compared to its average volume of 506,987. The stock has a market cap of $86.34 billion, a PE ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. The company's 50 day moving average is $670.95 and its two-hundred day moving average is $620.05. Parker-Hannifin Co. has a fifty-two week low of $458.09 and a fifty-two week high of $712.42. 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 (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the business posted $5.96 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. Mizuho upped their price objective 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 lifted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $722.94.

Insider Buying and Selling

In other news, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company's stock, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was 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 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. Over the last ninety days, insiders sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company's stock.

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.