United Asset Strategies Inc. Reduces Holdings in Parker-Hannifin Co. (NYSE:PH)

United Asset Strategies Inc. trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,235 shares of the industrial products company’s stock after selling 34 shares during the quarter. Parker-Hannifin makes up about 1.4% of United Asset Strategies Inc.’s investment portfolio, making the stock its 20th largest holding. United Asset Strategies Inc.’s holdings in Parker-Hannifin were worth $14,778,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PH. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Bangor Savings Bank raised its position in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC boosted its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the 4th quarter worth $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter valued at about $39,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 0.1 %

PH opened at $679.25 on Monday. 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 stock’s 50 day moving average price is $668.38 and its 200-day moving average price is $625.13. Parker-Hannifin Co. has a one year low of $463.16 and a one year high of $712.42. The stock has a market cap of $87.43 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45.

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, beating the consensus estimate of $6.14 by $0.06. The company 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%. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.96 EPS. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group assumed coverage on Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $722.81.

Insiders Place Their Bets

In related news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock worth $12,303,829 in the last three months. Corporate insiders own 0.39% of the company’s stock.

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.