Homestead Advisers Corp Has $126.73 Million Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Homestead Advisers Corp lessened its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 208,480 shares of the industrial products company's stock after selling 18,400 shares during the period. Parker-Hannifin accounts for 3.1% of Homestead Advisers Corp's investment portfolio, making the stock its 4th biggest position. Homestead Advisers Corp owned approximately 0.16% of Parker-Hannifin worth $126,725,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Parker-Hannifin by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock worth $6,903,962,000 after acquiring an additional 111,406 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after purchasing an additional 99,261 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Parker-Hannifin by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after purchasing an additional 198,292 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Parker-Hannifin by 9.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after purchasing an additional 172,064 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $2.05 during midday trading on Thursday, reaching $730.22. 620,036 shares of the company were exchanged, compared to its average volume of 750,643. The stock has a market cap of $93.31 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34. The business's fifty day moving average is $683.78 and its two-hundred day moving average is $650.29. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $734.49.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $6.51 earnings per share. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Evercore ISI upped their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Five investment 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

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.