Ascent Group LLC Sells 910 Shares of Parker-Hannifin Corporation $PH

Ascent Group LLC lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 20.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,604 shares of the industrial products company’s stock after selling 910 shares during the period. Ascent Group LLC’s holdings in Parker-Hannifin were worth $3,168,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PH. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the third quarter worth $25,000. Chilton Capital Management LLC purchased a new position in Parker-Hannifin in the third quarter worth $29,000. Ameriflex Group Inc. grew its stake in Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares during the period. Morse Asset Management Inc increased its position in shares of Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $36,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at $949,940. The trade was a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,063 shares of company stock worth $9,891,214. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Citigroup raised their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Finally, Morgan Stanley raised their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $996.60.

Parker-Hannifin Trading Up 0.0%

Shares of Parker-Hannifin stock opened at $908.32 on Monday. The stock has a market capitalization of $114.65 billion, a P/E ratio of 33.13, a P/E/G ratio of 2.92 and a beta of 1.25. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock’s 50-day simple moving average is $951.11 and its 200 day simple moving average is $874.62.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the prior year, the business earned $6.53 earnings per share. Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.