Beaumont Financial Advisors LLC Sells 90 Shares of Parker-Hannifin Co. (NYSE:PH)

Beaumont Financial Advisors LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,564 shares of the industrial products company’s stock after selling 90 shares during the period. Beaumont Financial Advisors LLC’s holdings in Parker-Hannifin were worth $721,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management purchased a new position in Parker-Hannifin in the third quarter worth $25,000. Baystate Wealth Management LLC increased its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in Parker-Hannifin in the second quarter worth about $30,000. Oakworth Capital Inc. grew its position in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Evercore ISI lifted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Finally, Barclays boosted their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $515.38.

Parker-Hannifin Trading Down 0.6 %

Shares of Parker-Hannifin stock opened at $534.65 on Friday. The company has a 50 day simple moving average of $540.36 and a two-hundred day simple moving average of $472.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market cap of $68.65 billion, a PE ratio of 26.47, a PEG ratio of 1.97 and a beta of 1.52. Parker-Hannifin Co. has a 1 year low of $309.89 and a 1 year high of $570.15.

Parker-Hannifin (NYSE:PH) 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 firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.76 EPS. Analysts expect that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,079 shares of company stock worth $6,099,566. Company insiders own 1.03% of the company’s stock.

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.