Parker-Hannifin Co. (NYSE:PH) Shares Sold by Strong Tower Advisory Services

Strong Tower Advisory Services decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,176 shares of the industrial products company’s stock after selling 112 shares during the period. Parker-Hannifin makes up approximately 0.9% of Strong Tower Advisory Services’ investment portfolio, making the stock its 27th largest position. Strong Tower Advisory Services’ holdings in Parker-Hannifin were worth $1,924,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $25,000. Baystate Wealth Management LLC raised its holdings in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares during the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $29,000. First Capital Advisors Group LLC. acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $30,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The disclosure for this sale can be found here. In the last three months, insiders sold 12,079 shares of company stock valued at $6,099,566. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $555.63 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 52 week low of $308.26 and a 52 week high of $561.13. The stock has a market capitalization of $71.35 billion, a PE ratio of 27.51, a P/E/G ratio of 2.06 and a beta of 1.52. The firm has a 50 day moving average of $518.49 and a two-hundred day moving average of $453.69.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company posted $4.76 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 24.2 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $450.00 to $510.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp raised their price target on shares of Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. The Goldman Sachs Group restated a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Barclays raised their price target on shares of Parker-Hannifin from $500.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $504.56.

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.