Segment Wealth Management LLC Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Segment Wealth Management LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,302 shares of the industrial products company’s stock after acquiring an additional 51 shares during the quarter. Parker-Hannifin makes up 1.2% of Segment Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Segment Wealth Management LLC’s holdings in Parker-Hannifin were worth $18,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at about $25,000. Bangor Savings Bank boosted its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $35,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter worth about $39,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

PH opened at $670.75 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 1 year low of $458.09 and a 1 year high of $712.42. The stock has a fifty day moving average price of $670.95 and a 200 day moving average price of $620.05. The stock has a market cap of $86.34 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.74 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.96 EPS. Analysts forecast that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. Parker-Hannifin’s payout ratio is 29.45%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. KeyCorp upped their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wolfe Research raised 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. Stifel Nicolaus lowered 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. Argus upped their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group raised their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

Insider Activity

In related news, 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 transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company’s stock.

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.