Choreo LLC cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 29.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,496 shares of the industrial products company's stock after selling 2,289 shares during the quarter. Choreo LLC's holdings in Parker-Hannifin were worth $3,341,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PH. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $32,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin during the first quarter valued at $35,000. Chilton Capital Management LLC increased its holdings in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after buying an additional 60 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock worth $42,000 after acquiring an additional 45 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Parker-Hannifin
In related news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on PH. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Barclays raised their price objective on Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Stifel Nicolaus boosted their price target 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. Finally, Truist Financial decreased their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.
Check Out Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Trading Up 1.1%
Parker-Hannifin stock traded up $8.28 during trading on Friday, reaching $737.90. 499,828 shares of the company were exchanged, compared to its average volume of 517,332. 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's 50 day simple moving average is $686.08 and its two-hundred day simple moving average is $651.70. The company has a market capitalization of $94.29 billion, a P/E ratio of 28.41, a PEG ratio of 3.15 and a beta of 1.34. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $740.83.
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 for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 EPS. The company's revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.
About Parker-Hannifin
(
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.
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