Cookson Peirce & Co. Inc. Grows Stake in Parker-Hannifin Corporation $PH

Key Points

• Cookson Peirce & Co. Inc. increased its stake in Parker-Hannifin Corporation by 23.0%, bringing its total holdings to 2,479 shares valued at approximately $1.51 million.
• Over 82% of Parker-Hannifin's stock is owned by institutional investors and hedge funds, with several firms making significant purchases in the last quarter.
• Parker-Hannifin recently reported a quarterly EPS of $7.69, exceeding analysts' expectations, and generated a revenue of $5.24 billion, demonstrating a 1.1% year-over-year growth.

Cookson Peirce & Co. Inc. grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,479 shares of the industrial products company's stock after purchasing an additional 464 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Parker-Hannifin were worth $1,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PH. SG Americas Securities LLC boosted its position in Parker-Hannifin by 27.2% in the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after buying an additional 6,630 shares in the last quarter. Alley Investment Management Company LLC acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $7,996,000. Community Financial Services Group LLC boosted its position in Parker-Hannifin by 1,338.2% in the first quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock valued at $4,030,000 after buying an additional 6,169 shares in the last quarter. Heartland Bank & Trust Co acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $260,000. Finally, Banco Santander S.A. boosted its position in Parker-Hannifin by 70.2% in the first quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company's stock valued at $21,667,000 after buying an additional 14,705 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.9%

Shares of NYSE:PH traded up $6.67 during midday trading on Monday, hitting $736.63. 464,880 shares of the company's stock were exchanged, compared to its average volume of 753,512. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The stock has a 50 day moving average price of $705.53 and a 200-day moving average price of $658.60. The company has a market cap of $94.13 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $763.99.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on PH shares. Stifel Nicolaus increased their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday, August 8th. 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 report on Wednesday, July 9th. Susquehanna started coverage on Parker-Hannifin in a report on Friday. They issued a "positive" rating and a $860.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Finally, Citigroup restated a "buy" rating and issued a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $768.71.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew A. Jacobson sold 575 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the transaction, the vice president owned 1,000 shares in the company, valued at approximately $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,414 shares of company stock valued at $6,883,931 in the last quarter. 0.39% of the stock is owned by company insiders.

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.