Fort Washington Investment Advisors Inc. OH Increases Stake in Parker-Hannifin Co. (NYSE:PH)

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 11.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,644 shares of the industrial products company’s stock after buying an additional 164 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Parker-Hannifin were worth $1,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atomi Financial Group Inc. increased its position in shares of Parker-Hannifin by 53.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,125 shares of the industrial products company’s stock valued at $715,000 after buying an additional 391 shares during the period. Charles Schwab Trust Co grew its holdings in Parker-Hannifin by 16.6% in the fourth quarter. Charles Schwab Trust Co now owns 1,646 shares of the industrial products company’s stock worth $1,047,000 after purchasing an additional 234 shares during the period. Aspiriant LLC grew its holdings in Parker-Hannifin by 8.0% in the fourth quarter. Aspiriant LLC now owns 485 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 36 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Parker-Hannifin by 7.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 19,258 shares of the industrial products company’s stock worth $12,249,000 after purchasing an additional 1,315 shares during the period. Finally, Ballentine Partners LLC grew its holdings in Parker-Hannifin by 5.9% in the fourth quarter. Ballentine Partners LLC now owns 1,587 shares of the industrial products company’s stock worth $1,009,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.8 %

Shares of Parker-Hannifin stock opened at $679.86 on Friday. The company has a market cap of $87.51 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 2.78 and a beta of 1.45. The company’s 50 day moving average is $669.12 and its 200 day moving average is $622.74. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month 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.

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, beating 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 for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s payout ratio is presently 29.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PH shares. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective on the stock. in a report on Monday, November 18th. KeyCorp upped their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. UBS Group started coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their target price 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. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. 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. Company insiders own 0.39% of the company’s stock.

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.