Sterneck Capital Management LLC Raises Position in Parker-Hannifin Co. (NYSE:PH)

Sterneck Capital Management LLC increased its stake in Parker-Hannifin Co. (NYSE:PH) by 34.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 502 shares of the industrial products company’s stock after purchasing an additional 128 shares during the quarter. Sterneck Capital Management LLC’s holdings in Parker-Hannifin were worth $319,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PH. One Wealth Capital Management LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at $398,000. Diversified Trust Co increased its holdings in Parker-Hannifin by 4.0% in the 4th quarter. Diversified Trust Co now owns 1,017 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 39 shares during the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $35,000. Doliver Advisors LP boosted its position in Parker-Hannifin by 253.9% during the fourth quarter. Doliver Advisors LP now owns 1,851 shares of the industrial products company’s stock worth $1,177,000 after purchasing an additional 1,328 shares during the period. Finally, CWA Asset Management Group LLC increased its stake in shares of Parker-Hannifin by 26.1% in the fourth quarter. CWA Asset Management Group LLC now owns 439 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.9 %

NYSE PH opened at $635.37 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $672.93 and its two-hundred day simple moving average is $612.10. Parker-Hannifin Co. has a twelve month low of $449.89 and a twelve month high of $712.42. The company has a market capitalization of $81.78 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.71 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping 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 company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts forecast that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last three months. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. UBS Group began coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Argus boosted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Mizuho raised their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

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.