Park Avenue Securities LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,741 shares of the industrial products company's stock after buying an additional 1,079 shares during the quarter. Park Avenue Securities LLC's holdings in Parker-Hannifin were worth $5,559,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in 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 worth $278,661,000 after buying an additional 279,480 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Parker-Hannifin by 9.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 1,529 shares of the industrial products company's stock valued at $972,000 after buying an additional 130 shares during the last quarter. Pines Wealth Management LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $374,000. SeaCrest Wealth Management LLC grew its position in Parker-Hannifin by 4.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,387 shares of the industrial products company's stock valued at $882,000 after buying an additional 55 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its holdings in Parker-Hannifin by 18.5% during the fourth quarter. Accurate Wealth Management LLC now owns 1,457 shares of the industrial products company's stock worth $918,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.
Insider Buying and Selling
In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company's stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last three months. Company insiders own 0.39% of the company's stock.
Parker-Hannifin Price Performance
PH stock traded up $1.09 during trading on Thursday, hitting $657.41. The company had a trading volume of 28,232 shares, compared to its average volume of 513,876. Parker-Hannifin Co. has a fifty-two week low of $453.18 and a fifty-two week high of $712.42. The firm has a market capitalization of $84.62 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 2.54 and a beta of 1.45. The business has a 50 day moving average of $673.15 and a 200 day moving average of $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 (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 14.47% and a return on equity of 27.95%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $5.96 earnings per share. As a group, research analysts predict 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. Investors 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 yield of 0.99%. Parker-Hannifin's dividend payout ratio is currently 29.45%.
Analyst Ratings Changes
Several brokerages recently commented on PH. Mizuho raised their price objective 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. UBS Group assumed coverage on Parker-Hannifin in a report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 price target on the stock. 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 research note on Tuesday, November 5th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $722.94.
View Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Company Profile
(
Free Report)
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.
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