Parr Mcknight Wealth Management Group LLC Invests $2.68 Million in Parker-Hannifin Corporation $PH

Parr Mcknight Wealth Management Group LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,535 shares of the industrial products company’s stock, valued at approximately $2,680,000.

Several other institutional investors have also recently bought and sold shares of PH. Berkshire Asset Management LLC PA raised its holdings in shares of Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after purchasing an additional 13 shares during the last quarter. Bridgewater Advisors Inc. grew its position in Parker-Hannifin by 2.3% in the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 13 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after buying an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC lifted its position in Parker-Hannifin by 0.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after buying an additional 14 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Parker-Hannifin by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 15 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PH shares. Susquehanna restated a “positive” rating and issued a $1,000.00 price objective on shares of Parker-Hannifin in a report on Wednesday, November 12th. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, January 30th. Barclays boosted their price target on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, Argus reissued a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a report on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $990.47.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the sale, the chief operating officer directly owned 13,120 shares in the company, valued at $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,551 shares of company stock worth $12,117,502 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

PH opened at $1,008.15 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,024.58. The business has a 50 day moving average of $935.69 and a 200-day moving average of $837.54. The stock has a market cap of $127.25 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 3.29 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the firm earned $6.53 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a $1.80 dividend. The ex-dividend date of this dividend is 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%.

About Parker-Hannifin

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.