KLP Kapitalforvaltning AS Purchases 700 Shares of Parker-Hannifin Corporation (NYSE:PH)

KLP Kapitalforvaltning AS grew its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,993 shares of the industrial products company's stock after acquiring an additional 700 shares during the period. KLP Kapitalforvaltning AS's holdings in Parker-Hannifin were worth $26,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at about $32,000. Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin during the first quarter valued at about $35,000. Finally, Chilton Capital Management LLC increased 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 valued at $39,000 after buying an additional 60 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PH shares. Barclays boosted their price target on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Finally, Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

Parker-Hannifin Stock Up 1.1%

Shares of NYSE:PH traded up $8.28 during trading on Friday, reaching $737.90. 499,828 shares of the stock traded hands, compared to its average volume of 517,332. The stock has a 50-day moving average of $686.08 and a two-hundred day moving average of $651.70. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $740.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The stock has a market cap of $94.29 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34.

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company's stock.

About Parker-Hannifin

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.