Everpar Advisors LLC Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Everpar Advisors LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,339 shares of the industrial products company’s stock after purchasing an additional 17 shares during the quarter. Everpar Advisors LLC’s holdings in Parker-Hannifin were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after acquiring an additional 181,859 shares during the last quarter. Wilkinson Global Asset Management LLC increased its position in Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares during the last quarter. Banco Santander S.A. raised its stake in Parker-Hannifin by 11.9% during the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after purchasing an additional 1,544 shares in the last quarter. Ritholtz Wealth Management lifted its position in Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 691 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Argus increased their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research note on Monday, November 18th. UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $657.97 on Friday. The firm has a market cap of $84.69 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $453.18 and a 52-week high of $712.42. 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’s 50 day moving average is $672.09 and its 200 day moving average is $617.07.

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 business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $5.96 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,430 shares of the firm’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 sale, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, 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 ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

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.