Parker-Hannifin Co. (NYSE:PH) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,666 shares of the industrial products company’s stock after selling 274 shares during the period. Nisa Investment Advisors LLC’s holdings in Parker-Hannifin were worth $26,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Simon Quick Advisors LLC lifted its position in shares of Parker-Hannifin by 11.5% during the 4th quarter. Simon Quick Advisors LLC now owns 593 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 61 shares during the period. Red Spruce Capital LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $341,000. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $23,390,000. Fort Washington Investment Advisors Inc. OH raised its position in shares of Parker-Hannifin by 11.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,644 shares of the industrial products company’s stock worth $1,046,000 after purchasing an additional 164 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Parker-Hannifin by 53.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,125 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 391 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 Stock Down 0.6 %

Shares of NYSE PH opened at $674.15 on Thursday. The firm has a fifty day moving average of $669.77 and a 200-day moving average of $622.37. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52-week low of $463.16 and a 52-week high of $712.42. The stock has a market capitalization of $86.78 billion, a PE ratio of 30.45, a P/E/G ratio of 2.74 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the company earned $5.96 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. 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, January 7th. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

About Parker-Hannifin

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.