United Asset Strategies Inc. Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

United Asset Strategies Inc. increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,217 shares of the industrial products company’s stock after purchasing an additional 323 shares during the quarter. United Asset Strategies Inc.’s holdings in Parker-Hannifin were worth $10,236,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in Parker-Hannifin during the 3rd quarter valued at about $25,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new position in Parker-Hannifin during the 3rd quarter valued at about $29,000. First Capital Advisors Group LLC. acquired a new position in Parker-Hannifin during the 2nd quarter valued at about $30,000. Finally, Oakworth Capital Inc. increased its position in 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 buying an additional 28 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 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 document filed with the SEC, which is accessible through this hyperlink. In other 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PH shares. 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. Wells Fargo & Company increased their price objective on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Evercore ISI increased their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays increased their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Price Performance

PH stock traded up $1.30 during mid-day trading on Tuesday, reaching $544.67. 193,956 shares of the company’s stock were exchanged, compared to its average volume of 586,276. The company has a market cap of $69.94 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.52. The stock’s 50 day moving average is $538.46 and its 200 day moving average is $469.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a 12-month low of $309.89 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results 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 company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. Parker-Hannifin’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.76 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

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.