Vista Cima Wealth Management LLC Takes Position in Parker-Hannifin Corporation $PH

Vista Cima Wealth Management LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 862 shares of the industrial products company’s stock, valued at approximately $654,000.

Several other hedge funds have also recently modified their holdings of the stock. von Borstel & Associates Inc. purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $262,000. NorthRock Partners LLC lifted its position in Parker-Hannifin by 17.8% in the third quarter. NorthRock Partners LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,390,000 after purchasing an additional 277 shares during the period. Texas Capital Bancshares Inc TX acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Private Management Group Inc. acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $523,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Parker-Hannifin by 15.9% in the third quarter. Brown Brothers Harriman & Co. now owns 2,013 shares of the industrial products company’s stock valued at $1,526,000 after buying an additional 276 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 1.3%

PH opened at $890.28 on Friday. 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 company has a market cap of $112.37 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.91 and a beta of 1.23. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,034.96. The business’s fifty day moving average is $959.64 and its two-hundred day moving average is $858.10.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $6.53 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred 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 owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,063 shares of company stock valued at $9,891,214 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on PH. Morgan Stanley increased their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 24th. Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Citigroup raised their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $995.37.

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.