Parker-Hannifin Co. (NYSE:PH) Shares Sold by West Oak Capital LLC

West Oak Capital LLC reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 75.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160 shares of the industrial products company’s stock after selling 505 shares during the period. West Oak Capital LLC’s holdings in Parker-Hannifin were worth $102,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC lifted its position in Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after purchasing an additional 381,285 shares during the period. World Investment Advisors LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC grew its position in Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after purchasing an additional 353,393 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 1.8 %

NYSE:PH traded down $11.50 on Friday, reaching $630.00. 612,774 shares of the company’s stock were exchanged, compared to its average volume of 548,012. The firm has a market capitalization of $81.09 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a 52-week low of $453.18 and a 52-week 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. The business has a fifty day moving average of $673.38 and a 200-day moving average of $612.50.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.96 EPS. As a group, analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 over the last ninety days. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Finally, Mizuho boosted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.