Procyon Advisors LLC Has $3.33 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Procyon Advisors LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,235 shares of the industrial products company’s stock after acquiring an additional 414 shares during the period. Procyon Advisors LLC’s holdings in Parker-Hannifin were worth $3,330,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at about $226,570,000. Finally, Mizuho Securities USA LLC lifted its position in Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after buying an additional 353,393 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.3 %

Shares of PH stock opened at $657.97 on Friday. The company has a market capitalization of $84.69 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 2.54 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12-month low of $453.18 and a 12-month high of $712.42. The firm has a fifty day moving average of $672.09 and a 200-day moving average of $617.07.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.96 EPS. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last ninety days. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Argus upped their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target for the company. in a research report on Monday, November 18th. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $722.94.

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.