Commonwealth Equity Services LLC Has $27.55 Million Stake in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Commonwealth Equity Services LLC increased its stake in Parker-Hannifin Corporation by 2.9%, owning a total of 45,321 shares valued at approximately $27.55 million after acquiring 1,283 shares in the first quarter.
• Wall Street analysts have raised price targets for Parker-Hannifin, with an average target now at $739.59, while 13 analysts rate the stock as a buy and five as a hold.
• The stock is currently trading at $714.66, with a 52-week range between $488.45 and $745.34, and has a market capitalization of $91.32 billion.

Commonwealth Equity Services LLC boosted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,321 shares of the industrial products company's stock after buying an additional 1,283 shares during the period. Commonwealth Equity Services LLC's holdings in Parker-Hannifin were worth $27,549,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. boosted its stake in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after buying an additional 15 shares in the last quarter. Becker Capital Management Inc. boosted its stake in Parker-Hannifin by 3.4% during the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after buying an additional 16 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in Parker-Hannifin by 3.5% during the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after buying an additional 16 shares in the last quarter. Citizens National Bank Trust Department boosted its stake in Parker-Hannifin by 8.5% during the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after buying an additional 17 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Parker-Hannifin by 1.6% during the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock valued at $714,000 after buying an additional 18 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.3%

Parker-Hannifin stock traded up $2.32 during mid-day trading on Friday, hitting $727.68. The company's stock had a trading volume of 819,698 shares, compared to its average volume of 660,415. The firm's 50 day moving average is $697.59 and its 200 day moving average is $656.47. The company has a market cap of $92.98 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.10 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.70. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $745.34.

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

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Stifel Nicolaus raised their target price on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Citigroup reaffirmed a "buy" rating and set a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Morgan Stanley increased their price target 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. 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 report on Friday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.