CX Institutional Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

CX Institutional boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,366 shares of the industrial products company’s stock after acquiring an additional 45 shares during the period. CX Institutional’s holdings in Parker-Hannifin were worth $1,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. RFG Advisory LLC boosted its position in shares of Parker-Hannifin by 3.3% during the 4th quarter. RFG Advisory LLC now owns 6,853 shares of the industrial products company’s stock valued at $4,359,000 after acquiring an additional 216 shares during the last quarter. TABR Capital Management LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $463,000. McGlone Suttner Wealth Management Inc. lifted its position in Parker-Hannifin by 6.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,288 shares of the industrial products company’s stock valued at $820,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC grew its stake in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares in the last quarter. Finally, Veracity Capital LLC increased its holdings in shares of Parker-Hannifin by 15.5% in the 4th quarter. Veracity Capital LLC now owns 1,320 shares of the industrial products company’s stock worth $840,000 after buying an additional 177 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $679.25 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52 week low of $463.16 and a 52 week high of $712.42. The firm has a market capitalization of $87.43 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45. The stock has a fifty day moving average of $668.77 and a 200 day moving average of $623.13.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.96 earnings per share. As a group, research analysts expect that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Upgrades and Downgrades

PH has been the subject of several research reports. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays upped their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Finally, UBS Group initiated coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $722.81.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm’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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Company 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.