BankChampaign National Association Buys New Position in Parker-Hannifin Corporation $PH

Key Points

• BankChampaign National Association purchased 1,394 Parker-Hannifin shares worth approximately $1.25 million, making PH its 18th-largest holding and representing about 1.2% of its portfolio.
• Institutional investors and hedge funds own 82.44% of Parker-Hannifin, with several firms increasing their positions during the fourth quarter and first quarter.
• Analysts maintain a generally positive outlook, with 18 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $1,027.38. The company also exceeded quarterly earnings and revenue estimates, reporting $8.17 EPS and $5.49 billion in revenue.

BankChampaign National Association purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,394 shares of the industrial products company's stock, valued at approximately $1,248,000. Parker-Hannifin accounts for about 1.2% of BankChampaign National Association's investment portfolio, making the stock its 18th largest holding.

Several other hedge funds have also made changes to their positions in PH. Avion Wealth grew its stake in shares of Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company's stock worth $36,000 after acquiring an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock valued at $540,000 after acquiring an additional 11 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock valued at $807,000 after acquiring an additional 11 shares in the last quarter. Optas LLC boosted its holdings in Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after purchasing an additional 11 shares during the period. Finally, Altfest L J & Co. Inc. boosted its holdings in Parker-Hannifin by 4.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company's stock valued at $251,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent research reports. Truist Financial upped their price target on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. Sanford C. Bernstein restated an "outperform" rating and set a $1,037.00 target price on shares of Parker-Hannifin in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Stock Performance

Shares of PH opened at $964.01 on Friday. The company's 50 day simple moving average is $931.48 and its 200-day simple moving average is $937.80. The firm has a market cap of $121.55 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm earned $6.94 EPS. Parker-Hannifin's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

About Parker-Hannifin

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.