Goldman Sachs Group Inc. Increases Stock Holdings in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Goldman Sachs Group Inc. increased its stake in Parker-Hannifin Corporation by 23.8% during the first quarter, owning approximately 0.77% of the company, valued at $605.87 million.
• Several research firms have raised their price targets for Parker-Hannifin, with Stifel Nicolaus setting a new target at $717.00 and Citigroup at $831.00, indicating a generally positive outlook for the stock.
• Parker-Hannifin's stock has a twelve-month high of $745.34 and currently has an average rating of "Moderate Buy" with a price target of $739.59.

Goldman Sachs Group Inc. boosted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 996,738 shares of the industrial products company's stock after acquiring an additional 191,799 shares during the period. Goldman Sachs Group Inc. owned about 0.77% of Parker-Hannifin worth $605,867,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $35,000. Chilton Capital Management LLC grew its position in shares of Parker-Hannifin by 1,500.0% during the first 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 acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PH. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday. Stifel Nicolaus raised their price target on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday. Raymond James Financial upped their price objective on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research note on Friday. Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Finally, KeyCorp boosted their target price on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $756.06.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $2.32 during trading on Friday, hitting $727.68. 819,698 shares of the company were exchanged, compared to its average volume of 660,415. 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 1 year low of $488.45 and a 1 year high of $745.34. The company has a market cap of $92.98 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.10 and a beta of 1.37. The firm's fifty day moving average price is $697.59 and its 200 day moving average price is $656.47.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating 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 firm had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter last year, the business earned $6.77 earnings per share. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin 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.