Premier Path Wealth Partners LLC Has $1.18 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Premier Path Wealth Partners LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,860 shares of the industrial products company’s stock after acquiring an additional 26 shares during the period. Premier Path Wealth Partners LLC’s holdings in Parker-Hannifin were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank raised its position in 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 acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire bought a new stake in Parker-Hannifin in the fourth quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction dated 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 sale, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of PH stock opened at $670.75 on Friday. The company has a market capitalization of $86.34 billion, a P/E ratio of 30.30, a P/E/G 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 12 month low of $458.09 and a 12 month high of $712.42. The stock has a 50 day moving average of $671.45 and a two-hundred day moving average of $617.36.

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, topping analysts’ consensus estimates of $6.14 by $0.06. The firm 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 business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.96 earnings per share. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is 29.45%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PH. Wells Fargo & Company cut their target price 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 boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. KeyCorp lifted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $722.94.

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.