Burney Co. Decreases Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Burney Co. trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,689 shares of the industrial products company's stock after selling 2,528 shares during the quarter. Parker-Hannifin comprises about 1.2% of Burney Co.'s investment portfolio, making the stock its 11th largest holding. Burney Co.'s holdings in Parker-Hannifin were worth $32,027,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank acquired a new stake in Parker-Hannifin during the fourth quarter worth about $1,106,132,000. GAMMA Investing LLC boosted its position in Parker-Hannifin by 66,111.8% during the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after buying an additional 1,732,791 shares during the period. Royal Bank of Canada boosted its position in Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after buying an additional 1,137,564 shares during the period. Capital World Investors bought a new position in Parker-Hannifin during the 4th quarter worth approximately $418,174,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in Parker-Hannifin by 6,912.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 1.1%

Shares of PH stock traded up $8.28 during mid-day trading on Friday, reaching $737.90. 499,828 shares of the company's stock traded hands, compared to its average volume of 517,332. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $740.83. The company has a market cap of $94.29 billion, a P/E ratio of 28.41, a P/E/G ratio of 3.12 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $686.08 and its 200-day moving average price is $651.62.

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

Wall Street Analyst Weigh In

PH has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 trade represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

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.