Gries Financial LLC Buys 57 Shares of Parker-Hannifin Co. (NYSE:PH)

Gries Financial LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,699 shares of the industrial products company’s stock after buying an additional 57 shares during the quarter. Gries Financial LLC’s holdings in Parker-Hannifin were worth $2,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Creative Planning increased its stake in Parker-Hannifin by 0.8% in the second quarter. Creative Planning now owns 25,490 shares of the industrial products company’s stock valued at $12,893,000 after purchasing an additional 209 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Parker-Hannifin by 7.3% in the 2nd quarter. NewEdge Advisors LLC now owns 12,453 shares of the industrial products company’s stock worth $6,299,000 after buying an additional 849 shares during the last quarter. Regal Investment Advisors LLC grew its holdings in 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 valued at $938,000 after purchasing an additional 381 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of Parker-Hannifin by 2.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock worth $1,239,000 after acquiring an additional 64 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in shares of Parker-Hannifin by 7.1% in the second quarter. EP Wealth Advisors LLC now owns 2,731 shares of the industrial products company’s stock worth $1,381,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 directly owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $664.21 on Thursday. The firm has a market cap of $85.50 billion, a PE ratio of 30.00, a PEG ratio of 2.76 and a beta of 1.45. The stock has a 50 day moving average of $667.31 and a 200 day moving average of $627.69. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $463.16 and a 12 month high of $712.42.

Parker-Hannifin (NYSE:PH) last posted 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. The company had revenue of $4.90 billion for 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%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.96 EPS. On average, research analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective on the stock. Argus upped their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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 report on Thursday, December 5th. Finally, Jefferies Financial Group lifted 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. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $722.81.

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.