Fortitude Family Office LLC Purchases 59 Shares of Parker-Hannifin Co. (NYSE:PH)

Fortitude Family Office LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204 shares of the industrial products company’s stock after purchasing an additional 59 shares during the quarter. Fortitude Family Office LLC’s holdings in Parker-Hannifin were worth $130,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PH. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Bangor Savings Bank increased its holdings in Parker-Hannifin by 238.5% during the 3rd 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 raised its stake in shares of 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 purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the third quarter worth about $39,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.9 %

PH opened at $640.76 on Friday. The stock has a fifty day moving average of $673.38 and a 200-day moving average of $612.50. The company has a market capitalization of $82.48 billion, a P/E ratio of 28.94, a P/E/G ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $449.89 and a fifty-two week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company earned $5.96 EPS. The business’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $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. Insiders sold 18,077 shares of company stock valued at $12,303,829 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PH shares. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Barclays boosted their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.