Foundations Investment Advisors LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Foundations Investment Advisors LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,515 shares of the industrial products company’s stock after acquiring an additional 33 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Parker-Hannifin were worth $963,000 at the end of the most recent quarter.

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

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $664.21 on Thursday. 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 Co. has a one year low of $463.16 and a one year high of $712.42. The company has a 50-day simple moving average of $667.31 and a 200-day simple moving average of $627.69. The stock has a market capitalization of $85.50 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the business earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Argus raised 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. UBS Group began coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target for the company. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus decreased their target price on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, Barclays increased their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $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 three months. 0.39% of the stock is currently owned by company insiders.

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.