ASR Vermogensbeheer N.V. Purchases New Holdings in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• ASR Vermogensbeheer N.V. acquired a total of 27,926 shares of Parker-Hannifin Corporation, valued at approximately $16,974,000, during the first quarter.
• Institutional investors own 82.44% of Parker-Hannifin's stock, with significant increases noted from GAMMA Investing LLC and Royal Bank of Canada in recent quarters.
• Parker-Hannifin's stock has a market capitalization of $91.32 billion, and is currently facing a 0.6% decline in trading at $714.66.

ASR Vermogensbeheer N.V. bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,926 shares of the industrial products company's stock, valued at approximately $16,974,000.

A number of other hedge funds also recently bought and sold shares of PH. SG Americas Securities LLC lifted its stake in shares of Parker-Hannifin by 27.2% during the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock worth $18,850,000 after buying an additional 6,630 shares during the period. Alley Investment Management Company LLC purchased a new position in Parker-Hannifin in the 1st quarter worth $7,996,000. Community Financial Services Group LLC raised its stake in Parker-Hannifin by 1,338.2% in the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock worth $4,030,000 after acquiring an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co purchased a new position in Parker-Hannifin in the 1st quarter worth $260,000. Finally, Banco Santander S.A. raised its stake in Parker-Hannifin by 70.2% in the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company's stock worth $21,667,000 after acquiring an additional 14,705 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $2.32 during trading on Friday, reaching $727.68. 819,698 shares of the company's stock traded hands, compared to its average volume of 660,415. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $745.34. The company has a quick ratio of 0.70, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The firm has a market cap of $92.98 billion, a PE ratio of 26.83, a P/E/G ratio of 3.10 and a beta of 1.37. The company has a 50-day simple moving average of $696.32 and a 200-day simple moving average of $656.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same period last year, the firm earned $6.77 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Stifel Nicolaus raised their target price on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research note on Friday. Citigroup restated a "buy" rating and issued a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Evercore ISI raised their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $756.06.

About Parker-Hannifin

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.