Stewardship Advisors LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Stewardship Advisors LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 341 shares of the industrial products company’s stock, valued at approximately $217,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 52.2% during the 2nd quarter. AQR Capital Management LLC now owns 78,768 shares of the industrial products company’s stock worth $39,841,000 after buying an additional 27,020 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Parker-Hannifin during the second quarter worth approximately $384,000. MBB Public Markets I LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at approximately $4,652,000. The Manufacturers Life Insurance Company increased its stake in shares of Parker-Hannifin by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 381,002 shares of the industrial products company’s stock worth $192,715,000 after purchasing an additional 45,716 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Parker-Hannifin by 107.7% during the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after purchasing an additional 140,898 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PH. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. TD Cowen lifted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. UBS Group started coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, KeyCorp increased their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $722.81.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $679.25 on Friday. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $668.38 and its 200 day simple moving average is $624.32. The firm has a market capitalization of $87.43 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company 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 firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $5.96 EPS. On average, analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Parker-Hannifin 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.