Kovitz Investment Group Partners LLC Raises Position in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Parker-Hannifin Corporation by 1.7%, now owning approximately 234,805 shares worth $142.7 million.
• The company reported earnings of $7.69 per share for the last quarter, exceeding analyst expectations and marking a year-over-year revenue increase of 1.1%.
• Parker-Hannifin's stock has received several upgrades, with analysts enhancing price targets and a consensus rating of "Moderate Buy" among 18 analysts.

Kovitz Investment Group Partners LLC boosted its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,805 shares of the industrial products company's stock after acquiring an additional 3,916 shares during the period. Kovitz Investment Group Partners LLC owned 0.18% of Parker-Hannifin worth $142,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Manhattan CO. LLC. grew its holdings in shares of Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after acquiring an additional 15 shares in the last quarter. Becker Capital Management Inc. grew its holdings in shares of Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after acquiring an additional 16 shares in the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Parker-Hannifin by 3.5% in the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 16 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of Parker-Hannifin by 5.0% in the first quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company's stock valued at $204,000 after acquiring an additional 16 shares in the last quarter. Finally, Citizens National Bank Trust Department grew its holdings in shares of Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

PH traded down $15.66 during trading on Friday, reaching $729.68. The stock had a trading volume of 716,118 shares, compared to its average volume of 730,332. The stock has a market cap of $93.24 billion, a PE ratio of 26.91, a PEG ratio of 3.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $763.99. The business has a 50-day moving average of $705.53 and a 200-day moving average of $658.92.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The firm's revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PH has been the subject of several recent analyst reports. Raymond James Financial set a $845.00 target price on Parker-Hannifin and gave the company an "outperform" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Parker-Hannifin in a research note on Friday, August 8th. Susquehanna initiated coverage on Parker-Hannifin in a research note on Friday. They issued a "positive" rating and a $860.00 price objective on the stock. Stifel Nicolaus upped their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Finally, Evercore ISI increased their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $768.71.

Insider Activity

In other news, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the sale, the vice president owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,414 shares of company stock valued at $6,883,931. Company insiders own 0.39% of the company's stock.

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.