Pursuit Wealth Management LLC Makes New $506,000 Investment in Parker-Hannifin Corporation $PH

Pursuit Wealth Management LLC purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 576 shares of the industrial products company’s stock, valued at approximately $506,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $25,000. Chilton Capital Management LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at approximately $29,000. Ameriflex Group Inc. lifted its holdings in Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 33 shares during the last quarter. Avion Wealth lifted its holdings in Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 11 shares during the last quarter. Finally, Morse Asset Management Inc grew its position in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 28 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This trade represents a 16.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin 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 sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $964.59 on Thursday. Parker-Hannifin Corporation has a 12 month low of $538.08 and a 12 month high of $1,034.96. The business has a 50-day moving average of $954.11 and a 200 day moving average of $885.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market capitalization of $121.75 billion, a price-to-earnings ratio of 35.18, a price-to-earnings-growth ratio of 3.17 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 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the prior year, the business posted $6.53 EPS. Parker-Hannifin’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Wall Street Analyst Weigh In

A number of research firms have commented on PH. Barclays lifted their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. BMO Capital Markets started coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 target price on the stock. Finally, iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a research note on Thursday, January 29th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.60.

Parker-Hannifin Profile

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.