Swiss National Bank Reduces Position in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Swiss National Bank reduced its stake in Parker-Hannifin by 0.1%, now holding 363,000 shares worth approximately $220.65 million.
• Significant increases in stake were reported by other investors, including GAMMA Investing LLC which grew its position by 66,111.8%, now owning 1.73 million shares valued at over $1 billion.
• Parker-Hannifin reported a quarterly earnings per share of $7.69, surpassing analysts' expectations of $7.08, with revenue reaching $5.24 billion.

Swiss National Bank lessened its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 363,000 shares of the industrial products company's stock after selling 500 shares during the quarter. Swiss National Bank owned approximately 0.28% of Parker-Hannifin worth $220,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. AlphaCore Capital LLC grew its stake in Parker-Hannifin by 82.2% during the 1st quarter. AlphaCore Capital LLC now owns 3,388 shares of the industrial products company's stock worth $2,059,000 after purchasing an additional 1,528 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Parker-Hannifin by 11.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 234,065 shares of the industrial products company's stock worth $142,287,000 after purchasing an additional 24,942 shares in the last quarter. Evernest Financial Advisors LLC boosted its position in shares of Parker-Hannifin by 7.1% during the 1st quarter. Evernest Financial Advisors LLC now owns 425 shares of the industrial products company's stock worth $258,000 after acquiring an additional 28 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of Parker-Hannifin by 5.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 569 shares of the industrial products company's stock worth $355,000 after acquiring an additional 27 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Parker-Hannifin by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company's stock worth $969,124,000 after acquiring an additional 11,815 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 0.6%

Shares of PH stock traded up $4.67 during mid-day trading on Wednesday, hitting $756.71. 272,322 shares of the company's stock were exchanged, compared to its average volume of 753,656. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $763.99. The stock has a 50-day simple moving average of $700.75 and a two-hundred day simple moving average of $657.21. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The stock has a market cap of $96.69 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 3.03 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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 return on equity of 26.80% and a net margin of 17.79%. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the transaction, the vice president directly owned 2,798 shares of the company's stock, valued at $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,361 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at $9,612,499.20. This trade represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,414 shares of company stock valued at $6,883,931 in the last ninety days. Company insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PH. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Parker-Hannifin in a research note on Friday, August 8th. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. KeyCorp raised their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus raised 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. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $763.00.

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.