Sequoia Financial Advisors LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Sequoia Financial Advisors LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 172.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,246 shares of the industrial products company's stock after acquiring an additional 17,885 shares during the period. Sequoia Financial Advisors LLC's holdings in Parker-Hannifin were worth $13,013,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PH. Cetera Advisor Networks LLC grew its stake in Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company's stock worth $425,000 after buying an additional 112 shares in the last quarter. Panagora Asset Management Inc. grew its stake in Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company's stock worth $1,098,000 after buying an additional 1,591 shares in the last quarter. Prudential PLC purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $687,000. Moors & Cabot Inc. lifted its holdings in shares of Parker-Hannifin by 270.8% in the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company's stock worth $771,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company's stock valued at $2,794,892,000 after purchasing an additional 190,889 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PH shares. Barclays upped their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Evercore ISI increased their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday, February 20th. KeyCorp raised their target price on shares of Parker-Hannifin from $500.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $450.00 to $510.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 19th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $511.31.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded down $6.19 during trading on Wednesday, reaching $555.16. 538,378 shares of the company traded hands, compared to its average volume of 595,684. The firm has a 50 day simple moving average of $535.87 and a 200-day simple moving average of $465.15. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $71.29 billion, a PE ratio of 27.48, a P/E/G ratio of 2.08 and a beta of 1.52. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm's revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.76 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.25 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin's payout ratio is 29.31%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares of the company's stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares of the company's stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock valued at $6,099,566 over the last 90 days. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin 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.