Parker-Hannifin Co. (NYSE:PH) Shares Sold by PFG Investments LLC

PFG Investments LLC reduced its position in Parker-Hannifin Co. (NYSE:PH) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,433 shares of the industrial products company’s stock after selling 20 shares during the quarter. PFG Investments LLC’s holdings in Parker-Hannifin were worth $912,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Armbruster Capital Management Inc. raised its stake in Parker-Hannifin by 2.0% in the 4th quarter. Armbruster Capital Management Inc. now owns 1,032 shares of the industrial products company’s stock valued at $656,000 after purchasing an additional 20 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Parker-Hannifin by 75.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 615 shares of the industrial products company’s stock valued at $391,000 after buying an additional 264 shares in the last quarter. Moody Lynn & Lieberson LLC grew its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after buying an additional 16 shares in the last quarter. Stewardship Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at $217,000. Finally, Running Oak Capital LLC grew its holdings in Parker-Hannifin by 1.6% in the 4th quarter. Running Oak Capital LLC now owns 23,494 shares of the industrial products company’s stock valued at $14,943,000 after buying an additional 362 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $665.56 on Wednesday. The business has a 50-day moving average of $667.79 and a 200 day moving average of $626.79. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42. The stock has a market capitalization of $85.67 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) 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 analyst estimates 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 quarter last year, the company earned $5.96 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the sale, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several analyst reports. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Wells Fargo & Company dropped their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group started coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target for the company. Finally, Stifel Nicolaus lowered their price target on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $722.81.

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.