Shelton Wealth Management LLC Acquires 70 Shares of Parker-Hannifin Co. (NYSE:PH)

Shelton Wealth Management LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,957 shares of the industrial products company’s stock after buying an additional 70 shares during the period. Shelton Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,245,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank increased its position in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin in the fourth quarter worth $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the third quarter worth $39,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other 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 value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on 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 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. Over the last quarter, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PH. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays increased their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, 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 research report on Thursday, November 21st. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $670.75 on Friday. The company has a fifty day moving average price of $671.45 and a 200 day moving average price of $617.36. The firm has a market cap of $86.34 billion, a PE 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 Co. has a 1-year low of $458.09 and a 1-year high of $712.42.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.96 earnings per share. Research analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

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.