Peak Financial Management Inc. Sells 50 Shares of Parker-Hannifin Co. (NYSE:PH)

Peak Financial Management Inc. lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 11.0% in the fourth quarter, HoldingsChannel reports. The fund owned 404 shares of the industrial products company’s stock after selling 50 shares during the period. Peak Financial Management Inc.’s holdings in Parker-Hannifin were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after buying an additional 381,285 shares in the last quarter. World Investment Advisors LLC acquired a new position in Parker-Hannifin in the 3rd quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC increased its stake in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after buying an additional 353,393 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last three months. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Down 0.1 %

Shares of NYSE PH opened at $679.25 on Monday. 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. The stock 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 50-day moving average price of $668.38 and a 200-day moving average price of $625.13.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. 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 analyst estimates of $4.90 billion. During the same period in the previous year, the company posted $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PH shares. KeyCorp raised their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price target on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $722.81.

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.