FSA Wealth Management LLC Acquires Shares of 132 Parker-Hannifin Co. (NYSE:PH)

FSA Wealth Management LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 132 shares of the industrial products company’s stock, valued at approximately $83,000.

A number of other institutional investors have also modified their holdings of the stock. CVA Family Office LLC lifted its stake in Parker-Hannifin by 3.9% during the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 16 shares during the last quarter. Sonoma Private Wealth LLC raised its holdings in shares of Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 19 shares during the period. W Advisors LLC lifted its position in shares of Parker-Hannifin by 3.4% in the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after buying an additional 19 shares during the last quarter. Simmons Bank boosted its holdings in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock valued at $1,739,000 after buying an additional 19 shares during the period. Finally, CFS Investment Advisory Services LLC grew its position in shares of Parker-Hannifin by 3.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company’s stock valued at $368,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of recent research reports. KeyCorp raised their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target for the company. in a report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Trading Up 0.4 %

Shares of NYSE:PH opened at $702.90 on Monday. The company has a 50 day moving average of $656.37 and a 200-day moving average of $585.92. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market cap of $90.48 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.84 and a beta of 1.43. Parker-Hannifin Co. has a twelve month low of $426.78 and a twelve month high of $712.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.96 earnings per share. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

About Parker-Hannifin

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.