Miracle Mile Advisors LLC Acquires 1,844 Shares of Parker-Hannifin Co. (NYSE:PH)

Miracle Mile Advisors LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 42.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,225 shares of the industrial products company's stock after acquiring an additional 1,844 shares during the quarter. Miracle Mile Advisors LLC's holdings in Parker-Hannifin were worth $3,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bar Harbor Wealth Management raised its holdings in Parker-Hannifin by 0.9% during the 4th quarter. Bar Harbor Wealth Management now owns 21,470 shares of the industrial products company's stock worth $13,656,000 after buying an additional 198 shares during the period. Eastern Bank raised its holdings in shares of Parker-Hannifin by 11.1% during the fourth quarter. Eastern Bank now owns 48,000 shares of the industrial products company's stock valued at $30,529,000 after acquiring an additional 4,791 shares during the period. Cooper Financial Group lifted its position in shares of Parker-Hannifin by 6.1% in the 4th quarter. Cooper Financial Group now owns 832 shares of the industrial products company's stock valued at $529,000 after acquiring an additional 48 shares in the last quarter. Wedmont Private Capital boosted its stake in Parker-Hannifin by 32.7% in the 4th quarter. Wedmont Private Capital now owns 3,034 shares of the industrial products company's stock worth $1,912,000 after purchasing an additional 748 shares during the period. Finally, CHICAGO TRUST Co NA grew its position in Parker-Hannifin by 4.3% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,592 shares of the industrial products company's stock worth $1,013,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PH shares. Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Robert W. Baird boosted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Jefferies Financial Group increased their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lowered their target price on Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $722.94.

Parker-Hannifin Stock Up 1.4 %

Parker-Hannifin stock traded up $9.20 during mid-day trading on Tuesday, reaching $647.19. The company's stock had a trading volume of 666,737 shares, compared to its average volume of 553,205. The business's 50 day simple moving average is $673.15 and its 200 day simple moving average is $616.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 12 month low of $453.18 and a 12 month high of $712.42. The company has a market capitalization of $83.31 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.96 earnings per share. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.

Insider Activity

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % 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 valued at $12,303,829 in the last quarter. 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.