Goelzer Investment Management Inc. Takes $593,000 Position in Parker-Hannifin Corporation $PH

Goelzer Investment Management Inc. purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 675 shares of the industrial products company’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Spire Wealth Management boosted its stake in Parker-Hannifin by 481.9% during the 4th quarter. Spire Wealth Management now owns 1,414 shares of the industrial products company’s stock valued at $1,243,000 after purchasing an additional 1,171 shares during the last quarter. Baron Wealth Management LLC raised its stake in shares of Parker-Hannifin by 11.6% in the fourth quarter. Baron Wealth Management LLC now owns 1,784 shares of the industrial products company’s stock worth $1,568,000 after purchasing an additional 185 shares during the last quarter. Randall & Associates Wealth Management bought a new position in shares of Parker-Hannifin during the fourth quarter valued at $411,000. Woodward Diversified Capital LLC lifted its holdings in shares of Parker-Hannifin by 10.3% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,907 shares of the industrial products company’s stock valued at $1,676,000 after purchasing an additional 178 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 8.1% during the fourth quarter. Accurate Wealth Management LLC now owns 1,981 shares of the industrial products company’s stock valued at $1,824,000 after purchasing an additional 149 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PH shares. Stifel Nicolaus increased their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,000.10.

Parker-Hannifin Stock Down 0.1%

Parker-Hannifin stock opened at $887.73 on Monday. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,034.96. The stock has a fifty day moving average of $954.93 and a 200 day moving average of $869.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a market cap of $112.05 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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%.During the same quarter in the prior year, the company posted $6.53 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is 26.26%.

Insider Buying and Selling at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction 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 trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction 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 directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,063 shares of company stock valued at $9,891,214 in the last quarter. Insiders own 0.32% of the company’s stock.

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.