One Wealth Capital Management LLC Purchases New Shares in Parker-Hannifin Co. (NYSE:PH)

One Wealth Capital Management LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 626 shares of the industrial products company’s stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in Parker-Hannifin by 20.2% in the 2nd quarter. Private Advisor Group LLC now owns 5,277 shares of the industrial products company’s stock worth $2,669,000 after purchasing an additional 885 shares in the last quarter. Savant Capital LLC raised its position in shares of Parker-Hannifin by 9.6% in the second quarter. Savant Capital LLC now owns 2,928 shares of the industrial products company’s stock valued at $1,481,000 after buying an additional 257 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Parker-Hannifin by 101.0% in the second quarter. Acadian Asset Management LLC now owns 6,742 shares of the industrial products company’s stock valued at $3,406,000 after buying an additional 3,388 shares during the period. Caprock Group LLC grew its position in Parker-Hannifin by 87.6% during the second quarter. Caprock Group LLC now owns 2,986 shares of the industrial products company’s stock worth $1,510,000 after buying an additional 1,394 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in Parker-Hannifin by 2.1% during the second quarter. Ballentine Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $704,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.2 %

PH traded down $7.58 during trading on Tuesday, reaching $633.42. 487,574 shares of the stock traded hands, compared to its average volume of 495,617. The stock’s 50-day moving average is $672.73 and its 200 day moving average is $611.17. Parker-Hannifin Co. has a 12 month low of $449.89 and a 12 month high of $712.42. The stock has a market capitalization of $81.53 billion, a PE ratio of 28.61, a P/E/G ratio of 2.71 and a beta of 1.45. 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 released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The company 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 for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.96 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the business’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 completion of the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’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 trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last three months. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PH. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Company 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.