New Age Alpha Advisors LLC Sells 8,760 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Parker-Hannifin by 48.2%, selling 8,760 shares and holding a total of 9,399 shares valued at $5,713,000.
• Analysts have recently increased their price targets for Parker-Hannifin, with Barclays and KeyCorp setting new objectives at $750.00 and $790.00, respectively, while Citigroup raised its target to $831.00.
• Parker-Hannifin's shares opened at $718.92, with a market capitalization of $91.86 billion and a consensus rating of "Moderate Buy" among analysts.

New Age Alpha Advisors LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 48.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,399 shares of the industrial products company's stock after selling 8,760 shares during the quarter. New Age Alpha Advisors LLC's holdings in Parker-Hannifin were worth $5,713,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Accent Capital Management LLC bought a new stake in Parker-Hannifin during the first quarter worth approximately $41,000. Commonwealth Equity Services LLC boosted its position in Parker-Hannifin by 2.9% during the first quarter. Commonwealth Equity Services LLC now owns 45,321 shares of the industrial products company's stock worth $27,549,000 after purchasing an additional 1,283 shares during the period. Raiffeisen Bank International AG bought a new stake in Parker-Hannifin during the first quarter worth approximately $451,000. Smithfield Trust Co boosted its position in Parker-Hannifin by 13.9% during the first quarter. Smithfield Trust Co now owns 1,458 shares of the industrial products company's stock worth $886,000 after purchasing an additional 178 shares during the period. Finally, Scotia Capital Inc. boosted its position in Parker-Hannifin by 7.9% during the first quarter. Scotia Capital Inc. now owns 12,425 shares of the industrial products company's stock worth $7,553,000 after purchasing an additional 913 shares during the period. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $2.32 during trading hours on Friday, reaching $727.68. The stock had a trading volume of 819,698 shares, compared to its average volume of 660,415. The business's fifty day moving average is $697.59 and its two-hundred day moving average is $656.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.70. The company has a market cap of $92.98 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.10 and a beta of 1.37. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $745.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the company posted $6.77 earnings per share. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday. Stifel Nicolaus upped their target price on Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research report on Friday. KeyCorp increased their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research report on Friday. Raymond James Financial increased their price objective on Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average 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.