Merit Financial Group LLC Has $562,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Merit Financial Group LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 28.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,220 shares of the industrial products company’s stock after purchasing an additional 267 shares during the quarter. Merit Financial Group LLC’s holdings in Parker-Hannifin were worth $562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PH. OFI Invest Asset Management bought a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $26,000. Baystate Wealth Management LLC raised its stake in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares in the last quarter. Oakworth Capital Inc. raised its stake in shares of Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $42,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Jay Reidy sold 572 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $550.14 on Wednesday. The stock’s 50 day moving average is $545.73 and its 200 day moving average is $486.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The firm has a market cap of $70.64 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a one year low of $319.14 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $5.93 earnings per share. As a group, research analysts expect that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.19%. Parker-Hannifin’s payout ratio is currently 27.90%.

Analyst Ratings Changes

A number of research firms recently weighed in on PH. Stifel Nicolaus boosted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays decreased their price objective on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Argus upped their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday. Finally, Wells Fargo & Company decreased their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $539.56.

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.