FSA Wealth Management LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

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

A number of other large investors also recently made changes to their positions in the business. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the second quarter worth $25,000. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank lifted its holdings 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 buying an additional 31 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in Parker-Hannifin in the second quarter worth approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on 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 owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

PH opened at $702.90 on Monday. Parker-Hannifin Co. has a 12-month low of $426.78 and a 12-month high of $712.42. The firm has a market capitalization of $90.48 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. The stock’s 50 day moving average price is $656.37 and its two-hundred day moving average price is $585.92. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $5.96 earnings per share. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PH shares. Evercore ISI lifted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays upped their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. KeyCorp raised their target price on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $691.40.

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.