Beaumont Asset Management L.L.C. Acquires 24 Shares of Parker-Hannifin Co. (NYSE:PH)

Beaumont Asset Management L.L.C. raised its stake in Parker-Hannifin Co. (NYSE:PH) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,071 shares of the industrial products company’s stock after purchasing an additional 24 shares during the period. Parker-Hannifin accounts for approximately 1.0% of Beaumont Asset Management L.L.C.’s investment portfolio, making the stock its 19th largest holding. Beaumont Asset Management L.L.C.’s holdings in Parker-Hannifin were worth $1,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Parker-Hannifin during the third quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $26,000. Baystate Wealth Management LLC raised its position in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. Oakworth Capital Inc. raised its position in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH traded up $10.68 on Tuesday, hitting $550.40. The company’s stock had a trading volume of 355,000 shares, compared to its average volume of 583,549. The company has a market capitalization of $70.68 billion, a PE ratio of 26.72, a PEG ratio of 1.96 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The company has a 50 day moving average price of $540.79 and a 200 day moving average price of $474.50.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.76 EPS. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Parker-Hannifin’s dividend payout ratio is 29.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on PH. Barclays lifted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Evercore ISI increased their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Stifel Nicolaus raised their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, KeyCorp lifted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock worth $6,099,566 in the last three months. Insiders own 1.03% of the company’s stock.

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.