Marcum Wealth LLC Cuts Stake in Parker-Hannifin Co. (NYSE:PH)

Marcum Wealth LLC lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,471 shares of the industrial products company’s stock after selling 23 shares during the quarter. Marcum Wealth LLC’s holdings in Parker-Hannifin were worth $4,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PH. Wealthspire Advisors LLC increased its holdings in shares of Parker-Hannifin by 9.2% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,267 shares of the industrial products company’s stock worth $641,000 after purchasing an additional 107 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Parker-Hannifin by 6.7% in the second quarter. J.W. Cole Advisors Inc. now owns 2,273 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 143 shares during the period. Brown Brothers Harriman & Co. grew its position in Parker-Hannifin by 250.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,524 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 1,089 shares during the period. One Capital Management LLC grew its holdings in shares of Parker-Hannifin by 146.7% in the second quarter. One Capital Management LLC now owns 2,304 shares of the industrial products company’s stock worth $1,165,000 after acquiring an additional 1,370 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in Parker-Hannifin by 1,262.8% during the second quarter. Citizens Financial Group Inc. RI now owns 20,714 shares of the industrial products company’s stock valued at $10,477,000 after acquiring an additional 19,194 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PH. Wolfe Research upgraded shares of 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. TD Cowen lifted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research note on Monday, November 18th. Robert W. Baird lifted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $722.94.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the company’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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Up 1.2 %

NYSE PH opened at $637.76 on Tuesday. The stock has a 50 day moving average price of $673.28 and a 200-day moving average price of $615.81. Parker-Hannifin Co. has a one year low of $453.18 and a one year high of $712.42. The company has a market capitalization of $82.09 billion, a P/E ratio of 28.81, a P/E/G ratio of 2.71 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $5.96 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

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.