Wealth Enhancement Trust Services Inc. Purchases New Position in Parker-Hannifin Corporation $PH

Wealth Enhancement Trust Services Inc. purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,434 shares of the industrial products company’s stock, valued at approximately $1,260,000.

Several other hedge funds have also bought and sold shares of PH. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin during the third quarter worth $29,000. Ameriflex Group Inc. grew its position in Parker-Hannifin by 366.7% during the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares during the period. Avion Wealth grew its position in Parker-Hannifin by 35.5% during the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after buying an additional 11 shares during the period. Finally, Morse Asset Management Inc increased its holdings in Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock valued at $34,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $989.43 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a market capitalization of $124.89 billion, a PE ratio of 36.08, a P/E/G ratio of 3.08 and a beta of 1.25. Parker-Hannifin Corporation has a fifty-two week low of $538.08 and a fifty-two week high of $1,034.96. The company has a fifty day moving average of $954.10 and a two-hundred day moving average of $888.43.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $6.53 EPS. As a group, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PH. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Citigroup raised their target price on Parker-Hannifin from $1,092.00 to $1,137.00 and gave the company a “buy” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. lifted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley upped their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 24th. Finally, KeyCorp reiterated an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.60.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president directly owned 1,000 shares of the company’s stock, valued at $949,940. The trade was a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,063 shares of company stock worth $9,891,214 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.