Perigon Wealth Management LLC Acquires 65 Shares of Parker-Hannifin Co. (NYSE:PH)

Perigon Wealth Management LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 805 shares of the industrial products company’s stock after purchasing an additional 65 shares during the period. Perigon Wealth Management LLC’s holdings in Parker-Hannifin were worth $530,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp increased its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after acquiring an additional 564,365 shares during the period. International Assets Investment Management LLC grew its position in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares in the last quarter. World Investment Advisors LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC lifted its holdings in Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after purchasing an additional 353,393 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PH. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday. KeyCorp increased their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Barclays decreased their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $725.06.

Parker-Hannifin Trading Up 0.6 %

Shares of PH opened at $707.91 on Friday. The company’s fifty day simple moving average is $666.82 and its 200-day simple moving average is $628.47. The company has a market cap of $91.12 billion, a P/E ratio of 31.97, a P/E/G ratio of 2.73 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. As a group, analysts expect that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insiders Place Their Bets

In related news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction 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 sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock worth $8,595,207 over the last quarter. Company insiders own 0.39% of the company’s stock.

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.