Clear Harbor Asset Management LLC Has $37.87 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Clear Harbor Asset Management LLC reduced its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,535 shares of the industrial products company’s stock after selling 258 shares during the period. Parker-Hannifin makes up about 3.0% of Clear Harbor Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Clear Harbor Asset Management LLC’s holdings in Parker-Hannifin were worth $37,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank lifted its position in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new stake in shares of Parker-Hannifin during the 4th quarter worth about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $39,000. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Parker-Hannifin Price Performance

PH stock opened at $670.75 on Tuesday. The firm has a market cap of $86.34 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.74 and a beta of 1.45. The firm’s fifty day moving average is $670.95 and its 200 day moving average is $620.05. Parker-Hannifin Co. has a 52 week low of $458.09 and a 52 week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

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. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Research analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business 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 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

PH has been the topic of several recent research reports. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a report on Thursday, December 12th. Jefferies Financial Group upped their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.