Deutsche Bank AG Sells 56,780 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Deutsche Bank AG reduced its holdings in Parker-Hannifin by 9.5% during the first quarter, bringing its ownership to approximately $327.8 million.
• In contrast, GAMMA Investing LLC significantly increased its stake in Parker-Hannifin by 66,111.8%, owning over $1 billion in shares after a large purchase during the last quarter.
• Parker-Hannifin reported $7.69 earnings per share for the recent quarter, exceeding expectations, with a 1.1% increase in revenue year over year.

Deutsche Bank AG reduced its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,237 shares of the industrial products company's stock after selling 56,780 shares during the period. Deutsche Bank AG owned 0.42% of Parker-Hannifin worth $327,775,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. First Manhattan CO. LLC. grew its stake 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 worth $1,005,000 after acquiring an additional 15 shares during the period. Becker Capital Management Inc. grew its stake 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 worth $307,000 after acquiring an additional 16 shares during the period. Nicolet Advisory Services LLC grew its stake 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 worth $262,000 after acquiring an additional 16 shares during the period. Citizens National Bank Trust Department grew its stake 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 worth $132,000 after acquiring an additional 17 shares during the period. Finally, Sunbelt Securities Inc. grew its stake in shares of Parker-Hannifin by 1.6% in the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock worth $714,000 after acquiring an additional 18 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Shares of PH stock traded up $2.32 during mid-day trading on Friday, hitting $727.68. The company had a trading volume of 819,698 shares, compared to its average volume of 660,415. The stock's 50 day moving average price is $697.59 and its 200-day moving average price is $656.35. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $745.34. The company has a market capitalization of $92.98 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.70.

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

Analyst Ratings Changes

A number of analysts have recently commented on PH shares. Citigroup reiterated a "buy" rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Raymond James Financial raised their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the stock an "outperform" rating in a report on Friday. KeyCorp raised their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a report on Friday. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Barclays raised their price objective on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $756.06.

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.