National Pension Service Has $175.98 Million Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• The National Pension Service increased its stake in Parker-Hannifin Corporation by 8.9%, owning 289,509 shares valued at approximately $175.98 million.
• Analysts have set a new average price target of $763.00 for Parker-Hannifin, with 13 of them rating the stock as a buy and five as a hold.
• Company insiders sold a total of 9,414 shares valued at nearly $6.88 million in recent transactions, indicating a decrease in their ownership stakes.

National Pension Service boosted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 289,509 shares of the industrial products company's stock after acquiring an additional 23,749 shares during the period. National Pension Service owned 0.23% of Parker-Hannifin worth $175,978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Klingman & Associates LLC boosted its holdings in Parker-Hannifin by 4.3% in the first quarter. Klingman & Associates LLC now owns 437 shares of the industrial products company's stock worth $266,000 after acquiring an additional 18 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Parker-Hannifin by 421.4% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 73 shares of the industrial products company's stock worth $44,000 after acquiring an additional 59 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in Parker-Hannifin by 8.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 40,458 shares of the industrial products company's stock worth $24,553,000 after acquiring an additional 2,984 shares in the last quarter. Rossmore Private Capital boosted its holdings in Parker-Hannifin by 10.1% in the first quarter. Rossmore Private Capital now owns 818 shares of the industrial products company's stock worth $497,000 after acquiring an additional 75 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC boosted its holdings in Parker-Hannifin by 7.4% in the first quarter. Sustainable Insight Capital Management LLC now owns 5,339 shares of the industrial products company's stock worth $3,245,000 after acquiring an additional 369 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PH. Wells Fargo & Company increased their price target on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Evercore ISI raised their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, 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. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $763.00.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 575 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $733.06, for a total value of $421,509.50. Following the completion of the sale, the vice president directly owned 1,000 shares of the company's stock, valued at $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert W. Malone sold 2,257 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $730.66, for a total value of $1,649,099.62. Following the completion of the sale, the vice president directly owned 5,866 shares of the company's stock, valued at $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Stock Performance

Shares of Parker-Hannifin stock opened at $762.20 on Thursday. The business's fifty day simple moving average is $702.68 and its 200 day simple moving average is $657.94. The firm has a market capitalization of $97.39 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $763.99. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55.

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

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.

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