UNIVEST FINANCIAL Corp Acquires 493 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• UNIVEST FINANCIAL Corp increased its holdings in Parker-Hannifin by 9.7%, owning 5,586 shares valued at $3,395,000 as of its latest SEC filing.
• Parker-Hannifin reported earnings of $6.94 per share for the latest quarter, exceeding estimates, while revenue fell slightly to $4.96 billion.
• Institutional investors hold 82.44% of Parker-Hannifin shares, showcasing strong institutional interest in the stock, despite mixed ratings from analysts.

UNIVEST FINANCIAL Corp boosted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,586 shares of the industrial products company's stock after buying an additional 493 shares during the period. UNIVEST FINANCIAL Corp's holdings in Parker-Hannifin were worth $3,395,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Castellan Group grew its holdings in Parker-Hannifin by 111.3% in the 1st quarter. Castellan Group now owns 8,037 shares of the industrial products company's stock worth $4,885,000 after buying an additional 4,233 shares in the last quarter. Commerce Bank grew its holdings in Parker-Hannifin by 1.0% in the 1st quarter. Commerce Bank now owns 142,476 shares of the industrial products company's stock worth $86,604,000 after buying an additional 1,408 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in Parker-Hannifin by 40.1% in the 1st quarter. Jefferies Financial Group Inc. now owns 5,041 shares of the industrial products company's stock worth $3,064,000 after buying an additional 1,442 shares in the last quarter. US Bancorp DE grew its holdings in Parker-Hannifin by 3.6% in the 1st quarter. US Bancorp DE now owns 79,582 shares of the industrial products company's stock worth $48,375,000 after buying an additional 2,740 shares in the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in Parker-Hannifin by 3.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after buying an additional 16 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of PH stock traded down $20.40 on Friday, reaching $711.50. The stock had a trading volume of 903,021 shares, compared to its average volume of 478,697. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The firm's 50-day moving average is $692.39 and its two-hundred day moving average is $654.74. The firm has a market capitalization of $90.91 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 12 month low of $488.45 and a 12 month high of $745.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share 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 net margin of 17.14% and a return on equity of 26.80%. The business's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.51 EPS. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price target on Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Mizuho set a $785.00 price target on Parker-Hannifin in a research note on Friday, May 16th. KeyCorp increased their price target on Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Stifel Nicolaus increased their price target on Parker-Hannifin from $709.00 to $717.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Finally, Evercore ISI increased their price target on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

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.