Symphony Financial Ltd. Co. Sells 217 Shares of Parker-Hannifin Co. (NYSE:PH)

Symphony Financial Ltd. Co. lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,209 shares of the industrial products company’s stock after selling 217 shares during the period. Symphony Financial Ltd. Co.’s holdings in Parker-Hannifin were worth $818,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings 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 during the period. FMR LLC raised its holdings in shares of Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares in the last quarter. Geode Capital Management LLC lifted its stake in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after acquiring an additional 29,408 shares during the period. Wellington Management Group LLP boosted its holdings in 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 valued at $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Parker-Hannifin by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after purchasing an additional 59,432 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. UBS Group decreased their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Barclays cut their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday. KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Argus boosted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $725.06.

Insider Transactions at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % 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 valued at $8,595,207 in the last 90 days. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE PH opened at $707.91 on Friday. 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 12-month low of $463.16 and a 12-month high of $718.44. The firm’s 50-day moving average price is $666.84 and its 200-day moving average price is $629.60. The stock has a market capitalization of $91.12 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 2.73 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Parker-Hannifin Company 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.