Armbruster Capital Management Inc. Purchases 20 Shares of Parker-Hannifin Co. (NYSE:PH)

Armbruster Capital Management Inc. raised its position in Parker-Hannifin Co. (NYSE:PH) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,032 shares of the industrial products company’s stock after purchasing an additional 20 shares during the quarter. Armbruster Capital Management Inc.’s holdings in Parker-Hannifin were worth $656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CVA Family Office LLC grew its position in shares of Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 16 shares during the period. Grove Bank & Trust raised its holdings in shares of Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after buying an additional 16 shares during the period. Moody Lynn & Lieberson LLC grew its position in Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after acquiring an additional 16 shares during the last quarter. Everpar Advisors LLC boosted its position in Parker-Hannifin by 1.3% in the 4th quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after buying an additional 17 shares during the period. Finally, LVW Advisors LLC increased its position in Parker-Hannifin by 0.9% during the 4th quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PH. Barclays upped their price target on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. UBS Group initiated coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus dropped their target price on Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $722.81.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $679.25 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $668.38 and a 200-day simple moving average of $625.13. Parker-Hannifin Co. has a 52 week low of $463.16 and a 52 week high of $712.42. The stock has a market capitalization of $87.43 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value 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. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Company insiders own 0.39% of the company’s stock.

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.