Grove Bank & Trust Has $95,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

Grove Bank & Trust boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150 shares of the industrial products company’s stock after purchasing an additional 16 shares during the quarter. Grove Bank & Trust’s holdings in Parker-Hannifin were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. West Branch Capital LLC bought a new position in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank grew its position in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC grew its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin in the fourth quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the third quarter worth about $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Up 1.8 %

Shares of NYSE PH opened at $670.75 on Tuesday. Parker-Hannifin Co. has a 12-month low of $458.09 and a 12-month high of $712.42. 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 firm has a market cap of $86.34 billion, a PE ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. The company’s fifty day simple moving average is $670.95 and its 200 day simple moving average is $620.05.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.96 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.97%. Parker-Hannifin’s payout ratio is currently 29.45%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PH. Argus boosted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a report on Monday, November 18th. Mizuho boosted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $722.94.

Parker-Hannifin 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.