AE Wealth Management LLC Cuts Holdings in Parker-Hannifin Corporation $PH

Key Points

• AE Wealth Management cut its stake in Parker‑Hannifin by 24.1% in Q4, selling 2,994 shares and ending the period with 9,436 shares valued at $8.294 million.
• Parker‑Hannifin beat estimates with Q4 EPS of $7.65 versus $7.11 and revenue up 9.1%; the stock trades near $989 with a market cap of ~$124.9B and a consensus analyst rating of "Moderate Buy" (avg. price target $1,000.60).
• Insiders have been selling recently—including the CFO and a VP, with 10,063 insider shares (~$9.89M) sold in the past 90 days—while the company pays a quarterly dividend of $1.80 (annualized $7.20, yield ~0.7%).

AE Wealth Management LLC lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,436 shares of the industrial products company's stock after selling 2,994 shares during the period. AE Wealth Management LLC's holdings in Parker-Hannifin were worth $8,294,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $29,000. Ameriflex Group Inc. boosted its stake in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 33 shares in the last quarter. Avion Wealth boosted its stake in shares of Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 11 shares in the last quarter. Finally, Morse Asset Management Inc boosted its stake in shares of Parker-Hannifin by 164.7% in the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 3.4%

PH stock opened at $989.43 on Friday. Parker-Hannifin Corporation has a fifty-two week low of $538.08 and a fifty-two week high of $1,034.96. The business's 50 day moving average price is $954.10 and its two-hundred day moving average price is $888.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company has a market capitalization of $124.89 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 3.08 and a beta of 1.25.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $6.53 earnings per share. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 6th. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.26%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PH shares. JPMorgan Chase & Co. upped their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 24th. Citigroup upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,137.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Finally, BMO Capital Markets assumed coverage on shares of Parker-Hannifin in a research report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,000.60.

Insider Buying and Selling

In related news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares of the company's stock, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,063 shares of company stock worth $9,891,214 over the last 90 days. Corporate insiders own 0.32% of the company's stock.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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