Free Trial

Assetmark Inc. Purchases 13,119 Shares of Parker-Hannifin Corporation (NYSE:PH)

Parker-Hannifin logo with Industrials background

Key Points

  • Assetmark Inc. significantly increased its holdings in Parker-Hannifin Corporation by 59.6% during Q1, now owning 35,142 shares valued at $21.36 million.
  • Several institutional investors, including Norges Bank and GAMMA Investing LLC, made major investments in Parker-Hannifin recently, reflecting strong interest from big investors.
  • Research analysts have largely rated Parker-Hannifin as a "Moderate Buy," with an average price target of $739.59, showing positive sentiment towards the stock's future performance.
  • MarketBeat previews top five stocks to own in September.

Assetmark Inc. grew its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 59.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,142 shares of the industrial products company's stock after acquiring an additional 13,119 shares during the period. Assetmark Inc.'s holdings in Parker-Hannifin were worth $21,361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PH. Brighton Jones LLC grew its stake in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Parker-Hannifin by 0.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after purchasing an additional 55 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Parker-Hannifin by 8.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 209,123 shares of the industrial products company's stock worth $133,371,000 after purchasing an additional 16,034 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Parker-Hannifin by 23.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 8,732 shares of the industrial products company's stock worth $5,554,000 after purchasing an additional 1,681 shares in the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $604,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $0.99 during trading hours on Wednesday, reaching $733.88. The company's stock had a trading volume of 145,769 shares, compared to its average volume of 741,949. The firm has a 50 day moving average price of $688.36 and a 200-day moving average price of $653.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The stock has a market cap of $93.77 billion, a P/E ratio of 28.26, a P/E/G ratio of 3.16 and a beta of 1.34. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $745.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the firm posted $6.51 earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PH. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. KeyCorp boosted their price objective on Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Evercore ISI upped their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $709.00 to $717.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Finally, Barclays boosted their price target on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

Read Our Latest Analysis on PH

Parker-Hannifin Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

Should You Invest $1,000 in Parker-Hannifin Right Now?

Before you consider Parker-Hannifin, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Parker-Hannifin wasn't on the list.

While Parker-Hannifin currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

5 Stocks to BUY NOW in August 2025
The $2.5B Merger No One Is Talking About
ALERT: Big Tech Earnings – Watch Before Wednesday

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines