GC Wealth Management RIA LLC Decreases Stake in Parker-Hannifin Corporation $PH

GC Wealth Management RIA LLC lessened its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 14.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,353 shares of the industrial products company's stock after selling 1,947 shares during the quarter. GC Wealth Management RIA LLC's holdings in Parker-Hannifin were worth $9,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Bogart Wealth LLC raised its stake in Parker-Hannifin by 130.4% in the 4th quarter. Bogart Wealth LLC now owns 53 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 30 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $208,000. Simplicity Wealth LLC grew its holdings in shares of Parker-Hannifin by 24.8% during the 4th quarter. Simplicity Wealth LLC now owns 488 shares of the industrial products company's stock worth $429,000 after purchasing an additional 97 shares during the period. Turning Point Benefit Group Inc. grew its holdings in shares of Parker-Hannifin by 32.4% during the 4th quarter. Turning Point Benefit Group Inc. now owns 249 shares of the industrial products company's stock worth $219,000 after purchasing an additional 61 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $136,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

In other news, VP Dinu J. Parel sold 1,316 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value 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. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares of the company's stock, valued at approximately $949,940. The trade was a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 10,063 shares of company stock valued at $9,891,214. Company insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. BMO Capital Markets assumed coverage on Parker-Hannifin in a report on Friday, March 27th. They set an "outperform" rating and a $1,090.00 target price for the company. Citigroup upped their price target on Parker-Hannifin from $1,092.00 to $1,137.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Morgan Stanley upped their target price on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Tuesday, April 21st. Finally, Barclays upped their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target of $1,000.60.

Parker-Hannifin Stock Performance

PH stock opened at $963.45 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market cap of $121.60 billion, a P/E ratio of 35.14, a P/E/G ratio of 3.13 and a beta of 1.25. Parker-Hannifin Corporation has a 12-month low of $583.89 and a 12-month high of $1,034.96. The stock's 50 day simple moving average is $951.16 and its 200 day simple moving average is $900.40.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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 return on equity of 27.56% and a net margin of 17.29%.The business's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.53 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 31.04 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is currently 29.18%.

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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