Kingswood Wealth Advisors LLC Sells 116 Shares of Parker-Hannifin Co. (NYSE:PH)

Kingswood Wealth Advisors LLC trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,277 shares of the industrial products company’s stock after selling 116 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $5,900,000 as of its most recent SEC filing.

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

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. 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 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PH has been the topic of a number of analyst reports. Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Mizuho boosted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating for the company in a report on Friday. Wells Fargo & Company reduced their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Price Performance

PH opened at $679.25 on Monday. The company has a fifty day moving average price of $668.38 and a two-hundred day moving average price of $625.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a market capitalization of $87.43 billion, a PE ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45. Parker-Hannifin Co. has a 52 week low of $463.16 and a 52 week high of $712.42.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company posted $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s 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.