Western Financial Corp CA Trims Stake in Parker-Hannifin Co. (NYSE:PH)

Western Financial Corp CA cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,290 shares of the industrial products company’s stock after selling 38 shares during the quarter. Western Financial Corp CA’s holdings in Parker-Hannifin were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC grew its holdings in shares of Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 16 shares during the period. Grove Bank & Trust lifted its holdings in Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Moody Lynn & Lieberson LLC raised its position in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares in the last quarter. Everpar Advisors LLC boosted its holdings in Parker-Hannifin by 1.3% in the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 17 shares during the last quarter. Finally, LVW Advisors LLC lifted its stake in Parker-Hannifin by 0.9% in the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after buying an additional 17 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho lifted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,200 shares of company stock valued at $8,595,207 over the last ninety days. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of PH stock opened at $707.91 on Friday. The firm has a market cap of $91.12 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 2.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock’s fifty day simple moving average is $666.84 and its 200 day simple moving average is $629.60. Parker-Hannifin Co. has a one year low of $463.16 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. On average, analysts expect that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio is 29.45%.

Parker-Hannifin Company 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.