Prospera Financial Services Inc Sells 1,966 Shares of Parker-Hannifin Corporation $PH

Prospera Financial Services Inc decreased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 45.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,395 shares of the industrial products company’s stock after selling 1,966 shares during the quarter. Prospera Financial Services Inc’s holdings in Parker-Hannifin were worth $1,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in Parker-Hannifin during the third quarter worth $29,000. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $36,000. State of Wyoming acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $38,000. Princeton Global Asset Management LLC raised its stake in shares of Parker-Hannifin by 56.1% in the 2nd quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 23 shares in the last quarter. Finally, Sagard Holdings Management Inc. acquired a new stake in Parker-Hannifin in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,001.30 on Friday. The firm’s 50-day moving average is $920.62 and its 200-day moving average is $823.93. The company has a market cap of $126.38 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.17 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. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share 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%.The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business earned $6.53 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is currently 26.26%.

Wall Street Analyst Weigh In

PH has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Mizuho raised their target price on shares of Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $990.47.

Insiders Place Their Bets

In other news, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value 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. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,551 shares of company stock valued at $12,117,502 in the last ninety days. 0.32% of the stock is currently owned by insiders.

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.