Brentview Investment Management LLC Invests $2.86 Million in Parker-Hannifin Co. (NYSE:PH)

Brentview Investment Management LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,488 shares of the industrial products company’s stock, valued at approximately $2,855,000.

Other institutional investors have also modified their holdings of the company. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $25,000. Bangor Savings Bank grew its position in 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 acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $707.91 on Monday. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $718.44. The business has a 50 day moving average price of $666.84 and a two-hundred day moving average price of $630.03. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $91.12 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.67 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. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Insider Activity

In related news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,200 shares of company stock worth $8,595,207. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PH. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $725.06.

About Parker-Hannifin

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.