Aviance Capital Partners LLC Makes New $220,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Aviance Capital Partners LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 478 shares of the industrial products company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Parker-Hannifin in the third quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $26,000. Baystate Wealth Management LLC raised its stake in shares of Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares during the last quarter. Oakworth Capital Inc. lifted its stake in Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 28 shares during the period. Finally, ORG Partners LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at $42,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.1 %

Shares of NYSE PH traded down $0.65 during mid-day trading on Tuesday, hitting $550.14. The company had a trading volume of 475,443 shares, compared to its average volume of 605,391. Parker-Hannifin Co. has a 1-year low of $319.14 and a 1-year high of $570.15. The company has a market capitalization of $70.64 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The business’s 50-day simple moving average is $545.73 and its 200 day simple moving average is $486.41.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company earned $5.93 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Co. will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.90%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Jay Reidy sold 572 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

PH has been the subject of a number of analyst reports. Argus upped their price objective on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday. Barclays reduced their price objective on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research report on Friday. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Mizuho increased their price objective on shares of Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company lowered their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $539.56.

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.