AdvisorNet Financial Inc lowered its position in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 42.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,431 shares of the industrial products company’s stock after selling 1,073 shares during the period. AdvisorNet Financial Inc’s holdings in Parker-Hannifin were worth $910,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank grew its holdings in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the third quarter valued at $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on PH. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Mizuho boosted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a report on Monday, November 18th. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $722.94.
Insiders Place Their Bets
In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 over the last ninety days. 0.39% of the stock is currently owned by insiders.
Parker-Hannifin Stock Up 1.4 %
Shares of NYSE:PH opened at $656.08 on Thursday. Parker-Hannifin Co. has a 1 year low of $453.18 and a 1 year high of $712.42. The company has a market capitalization of $84.45 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The business has a fifty day moving average price of $673.15 and a two-hundred day moving average price of $616.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.
Parker-Hannifin (NYSE:PH – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the firm posted $5.96 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.
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.
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