Capital A Wealth Management LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Capital A Wealth Management LLC bought a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,801 shares of the industrial products company's stock, valued at approximately $1,145,000. Parker-Hannifin makes up about 1.9% of Capital A Wealth Management LLC's investment portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mutual Advisors LLC grew its position in shares of Parker-Hannifin by 7.5% in the 4th quarter. Mutual Advisors LLC now owns 659 shares of the industrial products company's stock valued at $434,000 after buying an additional 46 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after purchasing an additional 101 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Parker-Hannifin by 2,479.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,947 shares of the industrial products company's stock worth $2,510,000 after acquiring an additional 3,794 shares in the last quarter. Stewardship Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter worth approximately $217,000. Finally, Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after acquiring an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Up 0.1%

Shares of PH stock traded up $0.67 during mid-day trading on Thursday, hitting $666.97. The company's stock had a trading volume of 486,331 shares, compared to its average volume of 716,469. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The business has a 50-day moving average price of $611.33 and a 200 day moving average price of $647.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market cap of $85.22 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.51 EPS. Research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.08%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. Barclays cut their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Evercore ISI increased their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, KeyCorp raised their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target of $718.44.

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.