Parker-Hannifin Corporation (NYSE:PH) Position Boosted by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. increased its stake in Parker-Hannifin Corporation by 40.1%, now owning 5,041 shares valued at approximately $3.06 million.
• Other hedge funds, including SG Americas Securities LLC and Community Financial Services Group LLC, also made significant changes to their positions in Parker-Hannifin during the first quarter.
• Parker-Hannifin reported earnings of $6.94 per share for the last quarter, surpassing analyst expectations, despite a 2.2% decline in year-over-year revenue.

Jefferies Financial Group Inc. raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 40.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,041 shares of the industrial products company's stock after buying an additional 1,442 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Parker-Hannifin were worth $3,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $32,000. Olde Wealth Management LLC purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $35,000. Chilton Capital Management LLC boosted its holdings in Parker-Hannifin by 1,500.0% in the 1st 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 period. Finally, Sierra Ocean LLC boosted its holdings in Parker-Hannifin by 89.5% in the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PH shares. Barclays upped their price target on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Argus set a $680.00 target price on Parker-Hannifin in a research report on Tuesday, May 6th. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Evercore ISI upped their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Truist Financial cut their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Five 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, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded down $16.28 on Wednesday, hitting $698.60. The company's stock had a trading volume of 150,721 shares, compared to its average volume of 742,070. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $745.34. The company has a market capitalization of $89.27 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.07 and a beta of 1.37. The stock's 50-day moving average is $694.53 and its two-hundred day moving average is $655.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21.

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.