Parker-Hannifin Co. (NYSE:PH) Shares Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. increased its position in Parker-Hannifin Co. (NYSE:PH) by 1.5% in the fourth quarter, Holdings Channel reports. The firm owned 22,217 shares of the industrial products company’s stock after purchasing an additional 323 shares during the quarter. United Asset Strategies Inc.’s holdings in Parker-Hannifin were worth $10,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Parker-Hannifin in the third quarter valued at approximately $25,000. Baystate Wealth Management LLC boosted its stake in Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares during the period. DHJJ Financial Advisors Ltd. acquired a new position in Parker-Hannifin in the third quarter valued at approximately $29,000. First Capital Advisors Group LLC. acquired a new position in Parker-Hannifin in the second quarter valued at approximately $30,000. Finally, Oakworth Capital Inc. boosted its stake in Parker-Hannifin by 48.3% in the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Barclays boosted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were 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 of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were 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 of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,079 shares of company stock valued at $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH traded up $1.30 during midday trading on Tuesday, hitting $544.67. 193,956 shares of the stock were exchanged, compared to its average volume of 586,276. Parker-Hannifin Co. has a one year low of $309.89 and a one year high of $570.15. The company has a market capitalization of $69.94 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.01 and a beta of 1.52. The business has a 50-day moving average price of $538.46 and a two-hundred day moving average price of $469.06. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.89. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.76 earnings per share. Sell-side analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.09%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

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.