Fiduciary Family Office LLC Invests $1.56 Million in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Fiduciary Family Office LLC has invested approximately $1.56 million in Parker-Hannifin Corporation, acquiring 2,566 shares in the 1st quarter.
• Several hedge funds have also increased their stakes in Parker-Hannifin, with notable boosts from Community Financial Services Group LLC and Banco Santander S.A., indicating strong institutional interest in the company.
• Parker-Hannifin reported a quarterly earnings of $7.69 EPS, exceeding estimates and showcasing a revenue increase to $5.24 billion compared to the previous year.

Fiduciary Family Office LLC acquired a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,566 shares of the industrial products company's stock, valued at approximately $1,560,000.

Other institutional investors have also recently made changes to their positions in the company. First Manhattan CO. LLC. increased 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 worth $1,005,000 after acquiring an additional 15 shares during the last quarter. Becker Capital Management Inc. boosted its holdings in shares of Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 16 shares during the period. Nicolet Advisory Services LLC boosted its holdings in shares of Parker-Hannifin by 3.5% in the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after purchasing an additional 16 shares during the period. Citizens National Bank Trust Department boosted its holdings in shares of Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after purchasing an additional 17 shares during the period. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Parker-Hannifin by 1.6% in the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock valued at $714,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.4%

Parker-Hannifin stock traded up $3.15 during midday trading on Monday, hitting $730.89. 675,762 shares of the stock were exchanged, compared to its average volume of 684,276. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $745.34. The firm has a market cap of $93.39 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.11 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 0.71. The company has a 50 day moving average price of $699.00 and a two-hundred day moving average price of $656.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. Stifel Nicolaus upped their target price on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research report on Friday. KeyCorp upped their target price on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research report on Friday. Citigroup reissued a "buy" rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Finally, Morgan Stanley upped their target price 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. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $763.00.

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.