Strategic Investment Advisors MI Sells 190 Shares of Parker-Hannifin Co. (NYSE:PH)

Strategic Investment Advisors MI decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 10.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,568 shares of the industrial products company’s stock after selling 190 shares during the period. Strategic Investment Advisors MI’s holdings in Parker-Hannifin were worth $998,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank boosted its position in 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 period. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during the 3rd 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 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 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $679.25 on Monday. The firm’s 50-day moving average price is $668.38 and its 200-day moving average price is $625.13. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $87.43 billion, a PE ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $463.16 and a 52-week high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 net margin of 14.47% and a return on equity of 27.95%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.96 EPS. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current 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 issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,430 shares of the firm’s 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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’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 completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a research report on Friday. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp raised their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Barclays raised their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $722.81.

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.