Charles Schwab Investment Management Inc. Has $969.12 Million Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Parker-Hannifin Corporation by 0.7%, acquiring an additional 11,815 shares, bringing its total holdings to approximately 1.59 million shares worth around $969 million.
• A variety of other hedge funds also adjusted their positions in Parker-Hannifin, with notable changes including Brighton Jones LLC increasing its holdings by 5.9% and APG Asset Management N.V. boosting its position by 427.9%.
• Parker-Hannifin's stock has seen price target adjustments from multiple analysts, with Citigroup setting a new target at $831.00 and a consensus rating of "Moderate Buy" based on data from MarketBeat.

Charles Schwab Investment Management Inc. raised its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,594,347 shares of the industrial products company's stock after acquiring an additional 11,815 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of Parker-Hannifin worth $969,124,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $32,000. Olde Wealth Management LLC bought a new stake in Parker-Hannifin during the 1st quarter worth approximately $35,000. Chilton Capital Management LLC grew its position in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after acquiring an additional 60 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in Parker-Hannifin during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.3%

Shares of Parker-Hannifin stock traded up $2.32 during trading on Friday, reaching $727.68. The stock had a trading volume of 819,698 shares, compared to its average volume of 660,415. The company has a market capitalization of $92.98 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.10 and a beta of 1.37. The stock has a fifty day moving average price of $697.59 and a two-hundred day moving average price of $656.47. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $745.34. The company has a current ratio of 1.19, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly 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. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 earnings per share. Sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday. Morgan Stanley increased their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Citigroup reiterated a "buy" rating and issued a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, Raymond James Financial increased their price target on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $756.06.

Parker-Hannifin Company 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.