Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Tuttle Capital Management LLC

Tuttle Capital Management LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 33.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 606 shares of the industrial products company’s stock after buying an additional 152 shares during the quarter. Parker-Hannifin comprises approximately 2.3% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Tuttle Capital Management LLC’s holdings in Parker-Hannifin were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Wright Investors Service Inc. increased its holdings in Parker-Hannifin by 236.7% in the 4th quarter. Wright Investors Service Inc. now owns 3,185 shares of the industrial products company’s stock worth $2,026,000 after buying an additional 2,239 shares during the period. BCS Wealth Management purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at $1,413,000. PFW Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at $847,000. Miracle Mile Advisors LLC increased its stake in shares of Parker-Hannifin by 42.1% in the fourth quarter. Miracle Mile Advisors LLC now owns 6,225 shares of the industrial products company’s stock worth $3,959,000 after acquiring an additional 1,844 shares during the period. Finally, Bar Harbor Wealth Management raised its holdings in shares of Parker-Hannifin by 0.9% during the fourth quarter. Bar Harbor Wealth Management now owns 21,470 shares of the industrial products company’s stock worth $13,656,000 after purchasing an additional 198 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PH. Stifel Nicolaus downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a research report on Monday, November 18th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. 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 note on Thursday, December 5th. Finally, UBS Group initiated coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $722.94.

Parker-Hannifin Stock Performance

NYSE PH opened at $637.76 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a 1-year low of $453.18 and a 1-year high of $712.42. The company has a market cap of $82.09 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The stock’s 50 day simple moving average is $673.28 and its 200-day simple moving average is $615.81.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s payout ratio is 29.45%.

Insiders Place Their Bets

In related news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

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.