Ibex Wealth Advisors Purchases Shares of 11,625 Parker-Hannifin Co. (NYSE:PH)

Ibex Wealth Advisors acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,625 shares of the industrial products company’s stock, valued at approximately $7,394,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Creative Planning increased its holdings in shares of Parker-Hannifin by 0.8% in the second quarter. Creative Planning now owns 25,490 shares of the industrial products company’s stock valued at $12,893,000 after purchasing an additional 209 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Parker-Hannifin by 408.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 50,292 shares of the industrial products company’s stock worth $25,436,000 after buying an additional 40,400 shares during the period. NewEdge Advisors LLC raised its position in Parker-Hannifin by 7.3% during the 2nd quarter. NewEdge Advisors LLC now owns 12,453 shares of the industrial products company’s stock worth $6,299,000 after buying an additional 849 shares during the last quarter. Quarry LP lifted its stake in Parker-Hannifin by 293.7% during the 2nd quarter. Quarry LP now owns 437 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 326 shares during the period. Finally, Regal Investment Advisors LLC boosted its holdings in shares of Parker-Hannifin by 25.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 1,854 shares of the industrial products company’s stock valued at $938,000 after acquiring an additional 381 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Robert W. Baird raised their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group assumed coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price for the company. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays increased their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $722.81.

Parker-Hannifin Trading Up 0.5 %

Shares of PH traded up $3.07 during mid-day trading on Wednesday, reaching $669.30. The stock had a trading volume of 121,804 shares, compared to its average volume of 553,488. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The business’s fifty day moving average is $667.31 and its 200 day moving average is $627.69. Parker-Hannifin Co. has a 52-week low of $463.16 and a 52-week high of $712.42. The firm has a market cap of $86.15 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.96 EPS. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors 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 dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 29.45%.

Parker-Hannifin 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.