Moran Wealth Management LLC Reduces Holdings in Parker-Hannifin Corporation $PH

Moran Wealth Management LLC lowered its stake in Parker-Hannifin Corporation (NYSE:PH) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 73,069 shares of the industrial products company’s stock after selling 6,958 shares during the quarter. Parker-Hannifin makes up 2.0% of Moran Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Moran Wealth Management LLC’s holdings in Parker-Hannifin were worth $64,224,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the third quarter worth $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at $29,000. Ameriflex Group Inc. raised its position in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the last quarter. Morse Asset Management Inc boosted its stake in Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president owned 6,534 shares of the company’s stock, valued at $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 10,063 shares of company stock worth $9,891,214. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $989.43 on Friday. The firm has a fifty day simple moving average of $954.10 and a two-hundred day simple moving average of $887.53. The firm has a market cap of $124.89 billion, a PE ratio of 36.08, a P/E/G ratio of 3.08 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $538.08 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period last year, the company earned $6.53 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PH. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Wells Fargo & Company decreased their price target on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $1,000.60.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.