Avior Wealth Management LLC Sells 127 Shares of Parker-Hannifin Co. (NYSE:PH)

Avior Wealth Management LLC reduced its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 11.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,001 shares of the industrial products company’s stock after selling 127 shares during the quarter. Avior Wealth Management LLC’s holdings in Parker-Hannifin were worth $637,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PH. Franklin Resources Inc. grew its holdings in shares of Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $23,390,000. Wilkinson Global Asset Management LLC increased its position in shares of Parker-Hannifin by 59.1% during 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 acquiring an additional 14,526 shares during the period. Banco Santander S.A. raised its stake in shares of 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 acquiring an additional 1,544 shares in the last quarter. Finally, FMR LLC grew its stake in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PH shares. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. Barclays upped their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $722.81.

Insiders Place Their Bets

In related 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 transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Trading Down 0.1 %

Shares of NYSE:PH opened at $679.25 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm 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 business’s 50-day moving average is $668.38 and its 200 day moving average is $624.32. Parker-Hannifin Co. has a 1 year low of $463.16 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $5.96 EPS. On average, research analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 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.