Fulton Bank N.A. Acquires Shares of 468 Parker-Hannifin Co. (NYSE:PH)

Fulton Bank N.A. acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 468 shares of the industrial products company’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterneck Capital Management LLC lifted its holdings in Parker-Hannifin by 34.2% in the 4th quarter. Sterneck Capital Management LLC now owns 502 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 128 shares in the last quarter. One Wealth Capital Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $398,000. Diversified Trust Co raised its holdings in shares of Parker-Hannifin by 4.0% during the 4th quarter. Diversified Trust Co now owns 1,017 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 39 shares during the period. Bank of New Hampshire purchased a new position in shares of Parker-Hannifin during the 4th quarter worth $35,000. Finally, Doliver Advisors LP raised its holdings in shares of Parker-Hannifin by 253.9% during the 4th quarter. Doliver Advisors LP now owns 1,851 shares of the industrial products company’s stock worth $1,177,000 after acquiring an additional 1,328 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $630.00 on Friday. Parker-Hannifin Co. has a one year low of $453.18 and a one year high of $712.42. The company has a market cap of $81.09 billion, a PE ratio of 28.46, a P/E/G ratio of 2.71 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The business has a 50-day simple moving average of $673.28 and a 200-day simple moving average of $613.33.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the company posted $5.96 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the sale, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last 90 days. 0.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PH has been the topic of several analyst reports. TD Cowen lifted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Barclays lifted their price target on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company cut their price objective on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

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.