ORG Wealth Partners LLC Acquires New Stake in Parker-Hannifin Co. (NYSE:PH)

ORG Wealth Partners LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 131 shares of the industrial products company’s stock, valued at approximately $83,000.

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC boosted its position in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after acquiring an additional 353,393 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Robert W. Baird increased their price target 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, UBS Group began coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Trading Down 1.8 %

NYSE:PH opened at $630.00 on Friday. Parker-Hannifin Co. has a 12 month low of $453.18 and a 12 month 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. The company has a 50-day moving average price of $673.28 and a 200-day moving average price of $613.33. The stock has a market cap of $81.09 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.71 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the business posted $5.96 earnings per share. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts predict 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. Investors 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 1.03%. Parker-Hannifin’s payout ratio is 29.45%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

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.