Callan Family Office LLC Sells 1,999 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Callan Family Office LLC reduced its stake in Parker-Hannifin Corporation by 64.7% during the first quarter, now holding 1,091 shares valued at approximately $663,000.
• Despite the decrease in holdings by some investors, several others, including GAMMA Investing LLC and Royal Bank of Canada, significantly increased their stakes, showcasing investor interest in the company.
• Parker-Hannifin reported $7.69 earnings per share for the quarter, surpassing estimates, and had a revenue increase of 1.1% year-over-year.

Callan Family Office LLC lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 64.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,091 shares of the industrial products company's stock after selling 1,999 shares during the quarter. Callan Family Office LLC's holdings in Parker-Hannifin were worth $663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. Brighton Jones LLC boosted its holdings in shares of Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after buying an additional 101 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Parker-Hannifin by 0.8% in 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 buying an additional 55 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Parker-Hannifin by 15.8% in the fourth quarter. CreativeOne Wealth LLC now owns 1,117 shares of the industrial products company's stock valued at $711,000 after buying an additional 152 shares during the period. XTX Topco Ltd boosted its holdings in shares of Parker-Hannifin by 181.6% in the fourth quarter. XTX Topco Ltd now owns 1,039 shares of the industrial products company's stock valued at $661,000 after buying an additional 670 shares during the period. Finally, Jump Financial LLC lifted its position in shares of Parker-Hannifin by 587.4% in the fourth quarter. Jump Financial LLC now owns 3,011 shares of the industrial products company's stock worth $1,915,000 after purchasing an additional 2,573 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Parker-Hannifin in a research report on Friday, August 8th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Morgan Stanley upped their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $768.71.

Insider Activity

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the sale, the vice president directly owned 2,798 shares in the company, valued at $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert W. Malone sold 2,257 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the sale, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,414 shares of company stock valued at $6,883,931. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded down $15.66 on Friday, hitting $729.68. The company had a trading volume of 716,118 shares, compared to its average volume of 730,332. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $705.53 and a 200 day moving average price of $658.96. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $763.99. The stock has a market cap of $93.24 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 3.03 and a beta of 1.37.

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

Parker-Hannifin Profile

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.