Spire Wealth Management Acquires 1,171 Shares of Parker-Hannifin Corporation $PH

Spire Wealth Management lifted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 481.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,414 shares of the industrial products company’s stock after buying an additional 1,171 shares during the quarter. Spire Wealth Management’s holdings in Parker-Hannifin were worth $1,243,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the third quarter worth $29,000. Ameriflex Group Inc. grew its position in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 33 shares in the last quarter. Morse Asset Management Inc grew its position in shares of Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 28 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $36,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Citigroup upped their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,000.10.

Parker-Hannifin Stock Up 3.7%

PH stock opened at $893.69 on Wednesday. The company’s 50 day moving average is $952.57 and its 200 day moving average is $871.21. The stock has a market cap of $112.80 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.53 earnings per share. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a $1.80 dividend. The ex-dividend date was Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.8%. Parker-Hannifin’s payout ratio is 26.26%.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. This represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,063 shares of company stock valued at $9,891,214 over the last quarter. Insiders own 0.32% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.