Parker-Hannifin Co. (NYSE:PH) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,962 shares of the industrial products company's stock after acquiring an additional 1,024 shares during the quarter. HB Wealth Management LLC's holdings in Parker-Hannifin were worth $3,156,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank raised its stake in shares of 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 purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the fourth quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the third quarter valued at approximately $39,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $12.09 during trading on Monday, reaching $670.75. 728,894 shares of the company's stock traded hands, compared to its average volume of 506,987. The firm's 50-day moving average is $670.95 and its 200 day moving average is $620.05. Parker-Hannifin Co. has a 1 year low of $458.09 and a 1 year high of $712.42. The company has a market capitalization of $86.34 billion, a P/E ratio of 30.30, a PEG ratio of 2.54 and a beta of 1.45. 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 results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate 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 was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $5.96 earnings per share. 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 declared 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 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company's stock, valued at $9,686,464. This trade represents 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, 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 completion of the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PH shares. Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a report on Thursday, December 12th. 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 report on Thursday, November 21st. Finally, Argus lifted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.