Ritholtz Wealth Management Acquires 1,178 Shares of Parker-Hannifin Corporation $PH

Key Points

• Ritholtz Wealth Management increased its Parker‑Hannifin stake by 54.6% in Q4, buying 1,178 shares to hold 3,334 shares valued at about $2.93 million.
• Wall Street sentiment is broadly positive with 17 Buy vs. 4 Hold ratings and an average target of $998.35, while institutional investors own 82.44% of the stock and it trades near $983.95.
• Parker‑Hannifin beat quarterly estimates with EPS $7.65 (vs. $7.11) and revenue up 9.1%, pays a quarterly $1.80 dividend (yield ~0.7%), though insiders sold about 10,063 shares (~$9.89M) last quarter.

Ritholtz Wealth Management increased its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 54.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,334 shares of the industrial products company's stock after purchasing an additional 1,178 shares during the period. Ritholtz Wealth Management's holdings in Parker-Hannifin were worth $2,930,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Procyon Advisors LLC boosted its stake in Parker-Hannifin by 158,565.9% during the third 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 period. Bank of America Corp DE boosted its stake in Parker-Hannifin by 0.6% during the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company's stock worth $2,960,266,000 after buying an additional 22,706 shares during the period. Capital World Investors boosted its stake in Parker-Hannifin by 7.0% during the third 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 period. Ameriprise Financial Inc. boosted its stake in Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock worth $1,674,132,000 after buying an additional 13,309 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Parker-Hannifin by 0.5% during the third quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company's stock worth $619,480,000 after buying an additional 4,454 shares during the period. Institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PH shares. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research note on Thursday, January 29th. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Barclays lifted their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $998.35.

Parker-Hannifin Stock Down 0.0%

NYSE:PH opened at $983.95 on Monday. Parker-Hannifin Corporation has a 1-year low of $538.08 and a 1-year high of $1,034.96. The company has a 50-day moving average of $953.02 and a 200 day moving average of $881.48. The firm has a market cap of $124.19 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share 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%. During the same period last year, the firm earned $6.53 earnings per share. The company's revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Todd M. Leombruno sold 2,062 shares of the company's 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 sale, the chief financial officer directly owned 20,610 shares of the company's stock, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the company's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares of the company's stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,063 shares of company stock valued at $9,891,214 over the last quarter. 0.32% of the stock is owned by company insiders.

Parker-Hannifin 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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