Mayflower Financial Advisors LLC Buys 86 Shares of Parker-Hannifin Co. (NYSE:PH)

Mayflower Financial Advisors LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 814 shares of the industrial products company’s stock after purchasing an additional 86 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Parker-Hannifin were worth $518,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the third quarter valued at $25,000. Bangor Savings Bank raised its position 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 in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin in the fourth quarter worth about $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.3 %

Shares of NYSE PH opened at $664.21 on Thursday. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42. The firm has a market cap of $85.50 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. The business has a fifty day simple moving average of $667.31 and a two-hundred day simple moving average of $627.69. 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 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. Analysts expect that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PH shares. Wells Fargo & Company dropped their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. KeyCorp lifted their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group began coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price for the company. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.