Groupama Asset Managment Has $156.66 Million Position in Parker-Hannifin Corporation $PH

Key Points

• Groupama Asset Management increased its Parker-Hannifin position by 5.3% in the first quarter, holding 174,992 shares valued at approximately $156.66 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analysts maintain a favorable outlook, with 18 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $1,027.38.
• Parker-Hannifin reported quarterly adjusted earnings of $8.17 per share and revenue of $5.49 billion, exceeding estimates; revenue rose 10.6% year over year.

Groupama Asset Managment boosted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,992 shares of the industrial products company's stock after purchasing an additional 8,773 shares during the quarter. Parker-Hannifin comprises about 2.3% of Groupama Asset Managment's portfolio, making the stock its 13th biggest holding. Groupama Asset Managment owned approximately 0.14% of Parker-Hannifin worth $156,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new position in Parker-Hannifin during the fourth quarter worth about $185,532,000. Focus Partners Wealth increased its position in Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after acquiring an additional 207,495 shares during the period. Assenagon Asset Management S.A. raised its stake in Parker-Hannifin by 119.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock worth $305,032,000 after purchasing an additional 185,367 shares in the last quarter. Finally, Amundi raised its stake in Parker-Hannifin by 36.4% in the 1st quarter. Amundi now owns 625,059 shares of the industrial products company's stock worth $559,578,000 after purchasing an additional 166,962 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PH shares. Citigroup restated a "buy" rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Truist Financial raised their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Finally, Wells Fargo & Company reduced their price target on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,027.38.

Parker-Hannifin Trading Up 1.6%

Shares of Parker-Hannifin stock opened at $978.14 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The company has a market capitalization of $123.33 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.57 and a beta of 1.11. The firm's 50-day moving average price is $933.72 and its two-hundred day moving average price is $938.08.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts' consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.94 EPS. On average, analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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