Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC trimmed its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,118 shares of the industrial products company's stock after selling 1,950 shares during the quarter. Madison Asset Management LLC owned about 0.10% of Parker-Hannifin worth $74,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. raised its stake in shares of Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after buying an additional 15 shares in the last quarter. Becker Capital Management Inc. raised its stake in shares of Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock worth $307,000 after buying an additional 16 shares in the last quarter. Citizens National Bank Trust Department raised its stake in shares of Parker-Hannifin by 8.5% during the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock worth $132,000 after buying an additional 17 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Parker-Hannifin by 1.6% during the 1st quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock worth $714,000 after buying an additional 18 shares in the last quarter. Finally, Ellevest Inc. raised its stake in shares of Parker-Hannifin by 5.7% during the 4th quarter. Ellevest Inc. now owns 351 shares of the industrial products company's stock worth $223,000 after buying an additional 19 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Barclays increased their target price on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Wells Fargo & Company increased their target price on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. 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 note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

Parker-Hannifin Price Performance

NYSE:PH traded up $8.28 during trading hours on Friday, reaching $737.90. 499,828 shares of the company traded hands, compared to its average volume of 517,332. The firm's 50-day moving average is $686.08 and its 200-day moving average is $651.62. The stock has a market cap of $94.29 billion, a P/E ratio of 28.41, a P/E/G ratio of 3.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $740.83.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its 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. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.51 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 sale, the vice president owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company's stock.

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.