Aaron Wealth Advisors LLC Decreases Stake in Parker-Hannifin Co. (NYSE:PH)

Aaron Wealth Advisors LLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 13.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 379 shares of the industrial products company’s stock after selling 59 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $25,000. Bangor Savings Bank boosted its position in 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 increased its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Bank of New Hampshire purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $39,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 1.2 %

PH stock opened at $677.71 on Wednesday. The business’s 50-day moving average is $670.20 and its 200 day moving average is $621.16. Parker-Hannifin Co. has a 12-month low of $463.16 and a 12-month high of $712.42. The stock has a market cap of $87.23 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 2.74 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm 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%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.96 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PH. Robert W. Baird increased their price objective 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. Mizuho increased their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. UBS Group initiated coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Finally, Argus boosted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated 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 directly owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. 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. Insiders own 0.39% 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.