Sound Income Strategies LLC Sells 189 Shares of Parker-Hannifin Co. (NYSE:PH)

Sound Income Strategies LLC decreased its holdings in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,013 shares of the industrial products company’s stock after selling 189 shares during the quarter. Sound Income Strategies LLC’s holdings in Parker-Hannifin were worth $877,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Parker-Hannifin by 1.2% in the third quarter. Vanguard Group Inc. now owns 10,098,862 shares of the industrial products company’s stock worth $2,447,056,000 after buying an additional 116,630 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Parker-Hannifin by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock worth $564,923,000 after buying an additional 24,977 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 5,318.4% during the second quarter. Franklin Resources Inc. now owns 1,340,617 shares of the industrial products company’s stock worth $329,859,000 after purchasing an additional 1,315,875 shares in the last quarter. Deutsche Bank AG increased its position in shares of Parker-Hannifin by 4.3% during the second quarter. Deutsche Bank AG now owns 1,318,677 shares of the industrial products company’s stock worth $324,461,000 after purchasing an additional 54,308 shares in the last quarter. Finally, Maj Invest Holding A S increased its position in shares of Parker-Hannifin by 8.9% during the third quarter. Maj Invest Holding A S now owns 1,304,161 shares of the industrial products company’s stock worth $370,069,000 after purchasing an additional 106,939 shares in the last quarter. Institutional investors own 81.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PH. Stifel Nicolaus upped their price target on Parker-Hannifin from $334.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Credit Suisse Group upped their price target on Parker-Hannifin from $417.00 to $446.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Mizuho upped their price target on Parker-Hannifin from $300.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, January 13th. Wells Fargo & Company upped their price target on Parker-Hannifin from $335.00 to $341.00 and gave the stock an “overweight” rating in a research report on Thursday, January 19th. Finally, KeyCorp upped their target price on Parker-Hannifin from $335.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.25.

Insider Transactions at Parker-Hannifin

In other news, Chairman Thomas L. Williams sold 38,098 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $352.63, for a total transaction of $13,434,497.74. Following the sale, the chairman now directly owns 229,027 shares of the company’s stock, valued at approximately $80,761,791.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Berend Bracht sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $346.55, for a total transaction of $537,152.50. Following the completion of the sale, the vice president now owns 1,740 shares in the company, valued at approximately $602,997. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Thomas L. Williams sold 38,098 shares of the stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $352.63, for a total transaction of $13,434,497.74. Following the transaction, the chairman now directly owns 229,027 shares of the company’s stock, valued at approximately $80,761,791.01. The disclosure for this sale can be found here. Insiders have sold a total of 62,454 shares of company stock valued at $21,706,490 in the last ninety days. 1.37% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE:PH traded down $9.08 during mid-day trading on Friday, hitting $304.92. The company’s stock had a trading volume of 1,809,592 shares, compared to its average volume of 975,954. Parker-Hannifin Co. has a 1 year low of $230.44 and a 1 year high of $364.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.28 and a quick ratio of 0.73. The stock has a market cap of $39.11 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.45 and a beta of 1.51. The business’s fifty day moving average is $334.90 and its two-hundred day moving average is $299.51.

Parker-Hannifin (NYSE:PH – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $4.76 EPS for the quarter, beating the consensus estimate of $4.45 by $0.31. Parker-Hannifin had a net margin of 7.33% and a return on equity of 28.23%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the company earned $4.46 earnings per share. The firm’s revenue was up 22.2% on a year-over-year basis. Analysts anticipate that Parker-Hannifin Co. will post 19.6 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, March 3rd were paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Thursday, February 9th. Parker-Hannifin’s payout ratio is currently 54.96%.

Parker-Hannifin Company Profile

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Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace Systems segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.