Pacer Advisors Inc. Has $7.12 Million Stake in Parker-Hannifin Corporation $PH

Key Points

• Pacer Advisors reduced its Parker-Hannifin stake by 31.4% in the first quarter, selling 3,647 shares and retaining 7,955 shares valued at approximately $7.12 million.
• Parker-Hannifin shares opened at $996.66, giving the company a market capitalization of about $125.7 billion; institutional investors and hedge funds own 82.44% of the stock.
• Analysts maintain a generally positive outlook, with 18 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $1,027.38.

Pacer Advisors Inc. reduced its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 31.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,955 shares of the industrial products company's stock after selling 3,647 shares during the quarter. Pacer Advisors Inc.'s holdings in Parker-Hannifin were worth $7,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HFM Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the 3rd quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $31,000. NFSG Corp lifted its position in shares of Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after purchasing an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 16 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.4%

PH stock opened at $996.66 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The stock has a market capitalization of $125.67 billion, a P/E ratio of 36.76, a P/E/G ratio of 2.65 and a beta of 1.12. Parker-Hannifin Corporation has a fifty-two week low of $692.02 and a fifty-two week high of $1,034.96. The business has a 50-day moving average of $941.61 and a 200-day moving average of $939.33.

Analysts Set New Price Targets

Several research analysts have issued reports on PH shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. JPMorgan Chase & Co. decreased their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Evercore set a $1,064.00 price objective on Parker-Hannifin in a report on Monday, May 11th. Truist Financial raised their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research note on Friday, April 10th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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