Dakota Wealth Management Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)

Dakota Wealth Management reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,054 shares of the industrial products company’s stock after selling 34 shares during the quarter. Dakota Wealth Management’s holdings in Parker-Hannifin were worth $670,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Evergreen Capital Management LLC raised its position in Parker-Hannifin by 3.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 692 shares of the industrial products company’s stock worth $350,000 after buying an additional 22 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Parker-Hannifin during the second quarter worth about $23,600,000. AQR Capital Management LLC raised its holdings in Parker-Hannifin by 52.2% during the second quarter. AQR Capital Management LLC now owns 78,768 shares of the industrial products company’s stock worth $39,841,000 after purchasing an additional 27,020 shares in the last quarter. Delta Investment Management LLC lifted its position in Parker-Hannifin by 4.4% in the second quarter. Delta Investment Management LLC now owns 523 shares of the industrial products company’s stock valued at $265,000 after purchasing an additional 22 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Parker-Hannifin in the 2nd quarter valued at approximately $384,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s 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 sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the company’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 transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several recent analyst reports. Barclays raised their price target on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Robert W. Baird upped their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Argus raised their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Mizuho upped their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $722.81.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $679.25 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42. The stock has a fifty day moving average of $668.77 and a two-hundred day moving average of $623.13. The company has a market capitalization of $87.43 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating 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 firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

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.