Parker-Hannifin Corporation (NYSE:PH) Shares Purchased by Banco Santander S.A.

Key Points

• Banco Santander S.A. increased its holdings in Parker-Hannifin Corporation by 70.2% during the first quarter, acquiring an additional 14,705 shares, resulting in a total worth of approximately $21.67 million.
• Parker-Hannifin reported $6.94 earnings per share for the latest quarter, exceeding analysts' expectations, despite a 2.2% decline in revenue compared to the previous year.
• Investment analysts have a consensus rating of "Moderate Buy" for Parker-Hannifin, with an average price target of $739.59, reflecting positive expectations for the company's performance.

Banco Santander S.A. grew its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 70.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,645 shares of the industrial products company's stock after buying an additional 14,705 shares during the quarter. Banco Santander S.A.'s holdings in Parker-Hannifin were worth $21,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PH. SG Americas Securities LLC grew its stake in Parker-Hannifin by 27.2% during the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock worth $18,850,000 after purchasing an additional 6,630 shares in the last quarter. Alley Investment Management Company LLC acquired a new position in Parker-Hannifin during the 1st quarter worth $7,996,000. Community Financial Services Group LLC grew its stake in Parker-Hannifin by 1,338.2% during the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock worth $4,030,000 after purchasing an additional 6,169 shares in the last quarter. Heartland Bank & Trust Co acquired a new position in Parker-Hannifin during the 1st quarter worth $260,000. Finally, Systematic Alpha Investments LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $712,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. Barclays lifted their price target on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Evercore ISI lifted their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Citigroup reaffirmed a "buy" rating and set a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Finally, Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $739.59.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded down $20.40 on Friday, hitting $711.50. The stock had a trading volume of 903,021 shares, compared to its average volume of 523,876. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 3.04 and a beta of 1.37. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $745.34. The company's 50 day moving average price is $692.39 and its 200 day moving average price is $654.74. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.51 EPS. On average, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin 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.