SeaCrest Wealth Management LLC Buys 55 Shares of Parker-Hannifin Co. (NYSE:PH)

SeaCrest Wealth Management LLC lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,387 shares of the industrial products company’s stock after acquiring an additional 55 shares during the period. SeaCrest Wealth Management LLC’s holdings in Parker-Hannifin were worth $882,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Accurate Wealth Management LLC raised its position in shares of Parker-Hannifin by 18.5% in the 4th quarter. Accurate Wealth Management LLC now owns 1,457 shares of the industrial products company’s stock worth $918,000 after acquiring an additional 227 shares in the last quarter. Tuttle Capital Management LLC raised its position in shares of Parker-Hannifin by 33.5% in the 4th quarter. Tuttle Capital Management LLC now owns 606 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 152 shares in the last quarter. Wright Investors Service Inc. raised its position in shares of Parker-Hannifin by 236.7% in the 4th quarter. Wright Investors Service Inc. now owns 3,185 shares of the industrial products company’s stock worth $2,026,000 after acquiring an additional 2,239 shares in the last quarter. BCS Wealth Management bought a new position in shares of Parker-Hannifin in the 4th quarter worth $1,413,000. Finally, PFW Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $847,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PH shares. UBS Group started coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. 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 note on Thursday, December 12th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company dropped their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $722.94.

Insider Transactions at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock worth $12,303,829 over the last quarter. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Up 1.4 %

Shares of PH opened at $656.08 on Thursday. 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 company has a market capitalization of $84.45 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.71 and a beta of 1.45. The stock’s 50-day moving average price is $673.15 and its 200-day moving average price is $616.80.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm 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 business earned $5.96 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current 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 paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.99%. Parker-Hannifin’s payout ratio 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.