Parker-Hannifin Co. (NYSE:PH) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its position in Parker-Hannifin Co. (NYSE:PH) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,953 shares of the industrial products company’s stock after selling 2,084 shares during the period. Wesbanco Bank Inc.’s holdings in Parker-Hannifin were worth $19,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PH. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Bangor Savings Bank increased its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC grew its holdings in shares of 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 acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.6 %

Shares of PH opened at $674.15 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $86.78 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.78 and a beta of 1.45. The stock’s fifty day simple moving average is $669.77 and its 200 day simple moving average is $622.37. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $5.96 EPS. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wolfe Research upgraded 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. KeyCorp increased their target price on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company lowered their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Mizuho increased their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % 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 over the last three months. 0.39% of the stock is owned by company insiders.

Parker-Hannifin 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.