Parker-Hannifin Co. (NYSE:PH) Shares Sold by Vista Investment Partners LLC

Vista Investment Partners LLC lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 9,169 shares of the industrial products company’s stock after selling 46 shares during the quarter. Parker-Hannifin makes up 1.8% of Vista Investment Partners LLC’s holdings, making the stock its 12th largest holding. Vista Investment Partners LLC’s holdings in Parker-Hannifin were worth $5,832,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank lifted its stake in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC boosted its holdings in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin in the third quarter valued at $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. UBS Group began coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Stifel Nicolaus reduced their target price on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a research note on Friday. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $722.81.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % 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 Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

PH opened at $679.25 on Friday. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42. The firm has a market capitalization of $87.43 billion, a PE ratio of 30.68, a PEG ratio of 2.76 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $668.38 and its 200 day moving average price is $624.32.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm posted $5.96 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.