Vista Investment Partners LLC Cuts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Vista Investment Partners LLC decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,169 shares of the industrial products company’s stock after selling 46 shares during the quarter. Parker-Hannifin comprises about 1.8% of Vista Investment Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Vista Investment Partners LLC’s holdings in Parker-Hannifin were worth $5,832,000 as of its most recent filing with the Securities and Exchange Commission.

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

Parker-Hannifin Stock Down 0.1 %

Shares of PH opened at $679.25 on Friday. Parker-Hannifin Co. has a 12-month low of $463.16 and a 12-month high of $712.42. The firm has a fifty day moving average price of $668.38 and a 200-day moving average price of $624.32. The firm has a market capitalization of $87.43 billion, a P/E ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

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, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the company posted $5.96 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented 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 for the company in a research note on Thursday, December 12th. KeyCorp raised their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note 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. Stifel Nicolaus cut their price target on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a research note on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $722.81.

Insider Activity

In related news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by company insiders.

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.