Perigon Wealth Management LLC Purchases New Holdings in Parker-Hannifin Co. (NYSE:PH)

Perigon Wealth Management LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, HoldingsChannel reports. The firm purchased 535 shares of the industrial products company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sapient Capital LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,392,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $3,305,000. 17 Capital Partners LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $2,271,000. HMS Capital Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $1,225,000. Finally, RFG Advisory LLC grew its holdings in Parker-Hannifin by 417.3% during the 4th quarter. RFG Advisory LLC now owns 3,207 shares of the industrial products company’s stock worth $1,477,000 after acquiring an additional 2,587 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of analyst reports. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI lifted their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction 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 sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Down 0.7 %

PH opened at $540.44 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 12 month low of $309.89 and a 12 month high of $570.15. The firm’s fifty day simple moving average is $539.64 and its 200 day simple moving average is $470.64. The stock has a market capitalization of $69.40 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.99 and a beta of 1.52.

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, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the business earned $4.76 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $1.48 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.10%. Parker-Hannifin’s payout ratio is currently 29.31%.

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.