Parsons Capital Management Inc. RI Has $4.23 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Parsons Capital Management Inc. RI trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,655 shares of the industrial products company’s stock after selling 75 shares during the period. Parsons Capital Management Inc. RI’s holdings in Parker-Hannifin were worth $4,233,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PH. AQR Capital Management LLC boosted its stake in shares of Parker-Hannifin by 52.2% during the 2nd quarter. AQR Capital Management LLC now owns 78,768 shares of the industrial products company’s stock worth $39,841,000 after acquiring an additional 27,020 shares in the last quarter. Ascent Group LLC lifted its position in shares of Parker-Hannifin by 3.4% during the 2nd quarter. Ascent Group LLC now owns 3,387 shares of the industrial products company’s stock worth $1,713,000 after purchasing an additional 112 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $11,129,000. Creative Planning lifted its position in shares of Parker-Hannifin by 0.8% during the 2nd quarter. Creative Planning now owns 25,490 shares of the industrial products company’s stock worth $12,893,000 after purchasing an additional 209 shares during the last quarter. Finally, Silver Lake Advisory LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $261,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last 90 days. 0.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on PH. KeyCorp upped their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus dropped their target price on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Finally, Barclays raised their price target on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $671.03 on Monday. The firm has a market cap of $86.37 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The stock’s 50-day moving average is $668.38 and its 200-day moving average is $625.84. Parker-Hannifin Co. has a one year low of $463.16 and a one year high of $712.42. 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) last announced its quarterly 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 for 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 business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.96 earnings per share. Equities analysts predict that Parker-Hannifin Co. will post 26.73 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, March 7th. Shareholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.