Wedge Capital Management L L P NC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,241 shares of the industrial products company's stock after selling 3,705 shares during the period. Wedge Capital Management L L P NC's holdings in Parker-Hannifin were worth $10,966,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Procyon Advisors LLC raised its stake in Parker-Hannifin by 8.6% during the fourth quarter. Procyon Advisors LLC now owns 5,235 shares of the industrial products company's stock valued at $3,330,000 after purchasing an additional 414 shares in the last quarter. Everpar Advisors LLC raised its position in shares of Parker-Hannifin by 1.3% during the 4th quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company's stock valued at $852,000 after buying an additional 17 shares in the last quarter. Empirical Asset Management LLC grew its position in Parker-Hannifin by 23.8% in the fourth quarter. Empirical Asset Management LLC now owns 16,199 shares of the industrial products company's stock worth $10,303,000 after acquiring an additional 3,119 shares in the last quarter. Fermata Advisors LLC increased its stake in Parker-Hannifin by 5.7% during the fourth quarter. Fermata Advisors LLC now owns 654 shares of the industrial products company's stock worth $416,000 after acquiring an additional 35 shares during the last quarter. Finally, Retireful LLC purchased a new stake in Parker-Hannifin during the fourth quarter valued at approximately $669,000. 82.44% of the stock is owned by institutional investors.
Insider Buying and Selling at Parker-Hannifin
In related news, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction that occurred 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 sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % 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 firm'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 transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company's stock, valued at $3,831,839.40. This represents a 30.78 % 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 valued at $12,303,829. 0.39% of the stock is currently owned by insiders.
Parker-Hannifin Stock Up 1.8 %
NYSE PH traded up $12.09 during trading on Friday, reaching $670.75. 728,894 shares of the company's stock traded hands, compared to its average volume of 506,987. Parker-Hannifin Co. has a 12-month low of $458.09 and a 12-month high of $712.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm has a market cap of $86.34 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. The company's 50 day simple moving average is $670.95 and its two-hundred day simple moving average is $619.29.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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. The company had revenue of $4.90 billion during 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%. Parker-Hannifin's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.96 earnings per share. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.
Parker-Hannifin Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.97%. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.45%.
Analysts Set New Price Targets
PH has been the topic of several analyst reports. Wells Fargo & Company cut their target price on Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird increased 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. Barclays upped their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a research note on Thursday, December 12th. Finally, Argus increased their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $722.94.
Get Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin 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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