Monte Financial Group LLC Reduces Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Monte Financial Group LLC lessened its position in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,163 shares of the industrial products company’s stock after selling 42 shares during the quarter. Monte Financial Group LLC’s holdings in Parker-Hannifin were worth $1,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PH. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank increased its holdings in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the 4th quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin during the third quarter valued at $39,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. KeyCorp lifted their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Barclays upped their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $722.81.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Down 0.1 %

NYSE PH opened at $679.25 on Friday. The company has a fifty day moving average of $668.38 and a 200 day moving average of $624.32. The company has a market capitalization of $87.43 billion, a PE ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45. 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 Co. has a 1 year low of $463.16 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS 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 company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.96 earnings per share. Research analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio 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.