Segment Wealth Management LLC Buys 51 Shares of Parker-Hannifin Co. (NYSE:PH)

Segment Wealth Management LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 28,302 shares of the industrial products company’s stock after acquiring an additional 51 shares during the quarter. Parker-Hannifin comprises about 1.2% of Segment Wealth Management LLC’s holdings, making the stock its 21st largest position. Segment Wealth Management LLC’s holdings in Parker-Hannifin were worth $18,001,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Parker-Hannifin by 20.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,268 shares of the industrial products company’s stock valued at $1,653,000 after buying an additional 556 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Parker-Hannifin by 3.6% in the second quarter. Pacer Advisors Inc. now owns 10,377 shares of the industrial products company’s stock worth $5,249,000 after purchasing an additional 357 shares during the period. Ensign Peak Advisors Inc raised its position in shares of Parker-Hannifin by 2.9% in the second quarter. Ensign Peak Advisors Inc now owns 24,918 shares of the industrial products company’s stock worth $12,604,000 after buying an additional 710 shares in the last quarter. ProShare Advisors LLC boosted its stake in Parker-Hannifin by 7.0% during the second quarter. ProShare Advisors LLC now owns 20,137 shares of the industrial products company’s stock valued at $10,185,000 after buying an additional 1,323 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new position in Parker-Hannifin during the second quarter worth about $1,589,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PH. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group assumed coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. KeyCorp raised their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $722.94.

Parker-Hannifin Price Performance

NYSE PH opened at $670.75 on Tuesday. Parker-Hannifin Co. has a 12-month low of $458.09 and a 12-month high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $86.34 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.74 and a beta of 1.45. The firm’s fifty day simple moving average is $670.95 and its two-hundred day simple moving average is $620.05.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) 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 company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. 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 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 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

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

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.