Wealth Enhancement Trust Services Inc. Buys Shares of 1,434 Parker-Hannifin Corporation $PH

Wealth Enhancement Trust Services Inc. bought a new position in Parker-Hannifin Corporation (NYSE:PH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,434 shares of the industrial products company’s stock, valued at approximately $1,260,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 101 shares during the last quarter. Bison Wealth LLC increased its position in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after buying an additional 32 shares in the last quarter. Empowered Funds LLC increased its position in Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after buying an additional 15 shares in the last quarter. Acadian Asset Management LLC raised its stake in Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after buying an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after buying an additional 15 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,063 shares of company stock worth $9,891,214. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Up 3.4%

Shares of PH stock opened at $989.43 on Friday. Parker-Hannifin Corporation has a fifty-two week low of $538.08 and a fifty-two week high of $1,034.96. The firm has a market capitalization of $124.89 billion, a PE ratio of 36.08, a P/E/G ratio of 3.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock’s 50-day simple moving average is $954.10 and its 200-day simple moving average is $888.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.53 earnings per share. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PH shares. BMO Capital Markets began coverage on Parker-Hannifin in a research note on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price target on the stock. KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research report on Thursday, January 29th. Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $1,000.60.

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.