BCS Wealth Management Increases Stock Position in Parker-Hannifin Corporation $PH

Key Points

• BCS Wealth Management boosted its stake in Parker‑Hannifin by 83.3% in Q4, now owning 3,120 shares worth $2.742 million after purchasing an additional 1,418 shares.
• Parker‑Hannifin beat Q4 estimates with $7.65 EPS versus $7.11 and revenue rose 9.1% year‑over‑year; analysts give the stock a Moderate Buy rating with an average price target of $1,000.60.
• Insiders sold 10,063 shares totaling about $9.89 million over the past three months while institutional investors own 82.44% of the company and insiders hold just 0.32%.

BCS Wealth Management boosted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 83.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,120 shares of the industrial products company's stock after purchasing an additional 1,418 shares during the quarter. BCS Wealth Management's holdings in Parker-Hannifin were worth $2,742,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Procyon Advisors LLC increased its holdings in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Capital World Investors increased its holdings in shares of Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock worth $1,959,166,000 after buying an additional 169,073 shares during the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $103,284,000. California Public Employees Retirement System increased its holdings in shares of Parker-Hannifin by 51.3% in the 3rd quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company's stock worth $254,926,000 after buying an additional 114,008 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $86,046,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $984.59 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company has a market capitalization of $124.27 billion, a P/E ratio of 35.91, a P/E/G ratio of 3.19 and a beta of 1.25. The company's 50-day simple moving average is $954.18 and its two-hundred day simple moving average is $884.84. Parker-Hannifin Corporation has a one year low of $538.08 and a one year high of $1,034.96.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, February 6th. Parker-Hannifin's dividend payout ratio is currently 26.26%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the company's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a report on Thursday, January 29th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. The Goldman Sachs Group restated a "buy" rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Finally, Barclays boosted their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,000.60.

Parker-Hannifin Company Profile

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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