First Pacific Financial Sells 77 Shares of Parker-Hannifin Co. (NYSE:PH)

First Pacific Financial reduced its position in Parker-Hannifin Co. (NYSE:PH) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,254 shares of the industrial products company’s stock after selling 77 shares during the period. First Pacific Financial’s holdings in Parker-Hannifin were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PH. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Parker-Hannifin by 0.7% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after acquiring an additional 25 shares during the period. M&R Capital Management Inc. boosted its holdings in Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after buying an additional 25 shares during the period. Acropolis Investment Management LLC increased its stake in Parker-Hannifin by 4.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 563 shares of the industrial products company’s stock worth $219,000 after buying an additional 26 shares in the last quarter. TFG Advisers LLC raised its holdings in Parker-Hannifin by 1.3% during the third quarter. TFG Advisers LLC now owns 2,145 shares of the industrial products company’s stock valued at $836,000 after acquiring an additional 28 shares during the period. Finally, Oakworth Capital Inc. boosted its stake in shares of Parker-Hannifin by 48.3% in the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 28 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 1.6 %

Parker-Hannifin stock opened at $558.05 on Thursday. The firm has a market cap of $71.66 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.02 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a twelve month low of $308.26 and a twelve month high of $561.13. The business has a fifty day moving average of $516.45 and a two-hundred day moving average of $452.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.76 EPS. On average, analysts forecast that Parker-Hannifin Co. will post 24.2 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.06%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $588.00 price target on shares of Parker-Hannifin in a research note on Tuesday, March 5th. Barclays lifted their target price on Parker-Hannifin from $500.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Wolfe Research reaffirmed a “peer perform” rating on shares of Parker-Hannifin in a research note on Monday, December 11th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. Finally, TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $504.56.

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.