Mount Yale Investment Advisors LLC Takes $629,000 Position in Parker-Hannifin Co. (NYSE:PH)

Mount Yale Investment Advisors LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 988 shares of the industrial products company’s stock, valued at approximately $629,000.

Several other institutional investors also recently added to or reduced their stakes in PH. Creative Planning increased its holdings in shares of Parker-Hannifin by 0.8% in the 2nd quarter. Creative Planning now owns 25,490 shares of the industrial products company’s stock valued at $12,893,000 after acquiring an additional 209 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Parker-Hannifin by 408.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 50,292 shares of the industrial products company’s stock valued at $25,436,000 after purchasing an additional 40,400 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Parker-Hannifin by 7.3% in the second quarter. NewEdge Advisors LLC now owns 12,453 shares of the industrial products company’s stock valued at $6,299,000 after buying an additional 849 shares during the last quarter. Quarry LP boosted its stake in shares of Parker-Hannifin by 293.7% during the second quarter. Quarry LP now owns 437 shares of the industrial products company’s stock worth $221,000 after buying an additional 326 shares during the period. Finally, Regal Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 25.9% during the second quarter. Regal Investment Advisors LLC now owns 1,854 shares of the industrial products company’s stock worth $938,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent research reports. KeyCorp increased their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus cut their price objective 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, January 24th. Finally, Robert W. Baird lifted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $722.81.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % 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 worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE PH opened at $665.56 on Wednesday. The business has a 50 day moving average price of $667.79 and a 200 day moving average price of $626.79. The company has a market capitalization of $85.67 billion, a P/E ratio of 30.06, a PEG ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 1-year low of $463.16 and a 1-year high of $712.42. 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 (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the company posted $5.96 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 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.