Parker-Hannifin Co. (NYSE:PH) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,515 shares of the industrial products company’s stock after buying an additional 33 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Parker-Hannifin were worth $963,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Heirloom Wealth Management raised its position in Parker-Hannifin by 6.9% during the fourth quarter. Heirloom Wealth Management now owns 15,233 shares of the industrial products company’s stock valued at $9,689,000 after acquiring an additional 981 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $629,000. Webster Bank N. A. lifted its stake in shares of Parker-Hannifin by 14.4% in the 4th quarter. Webster Bank N. A. now owns 254 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 32 shares during the period. Pacer Advisors Inc. boosted its holdings in Parker-Hannifin by 9.8% during the fourth quarter. Pacer Advisors Inc. now owns 10,458 shares of the industrial products company’s stock worth $6,652,000 after buying an additional 936 shares in the last quarter. Finally, KBC Group NV grew its position in Parker-Hannifin by 17.7% during the fourth quarter. KBC Group NV now owns 45,484 shares of the industrial products company’s stock valued at $28,929,000 after buying an additional 6,851 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.3 %

Shares of Parker-Hannifin stock opened at $664.21 on Thursday. Parker-Hannifin Co. has a 1-year low of $463.16 and a 1-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. The stock has a market cap of $85.50 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.76 and a beta of 1.45. The stock’s 50 day simple moving average is $667.31 and its 200-day simple moving average is $627.69.

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

Parker-Hannifin Announces Dividend

The company 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 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PH shares. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Argus increased their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. KeyCorp boosted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, TD Cowen boosted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $722.81.

Insiders Place Their Bets

In related news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last ninety days. Company 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.