Parker-Hannifin Corporation $PH Shares Bought by Groupe la Francaise

Key Points

• Groupe la Française increased its Parker-Hannifin stake by 136.9% in the first quarter, adding 23,891 shares to hold 41,341 shares valued at approximately $37.0 million. Institutional investors and hedge funds collectively own 82.44% of the company.
• Parker-Hannifin exceeded quarterly expectations, reporting $8.17 in EPS versus the $7.84 consensus and $5.49 billion in revenue, up 10.6% year over year.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $1,027.38 price target, compared with the stock’s reported price of $964.01.

Groupe la Francaise raised its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 136.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,341 shares of the industrial products company's stock after buying an additional 23,891 shares during the period. Groupe la Francaise's holdings in Parker-Hannifin were worth $36,974,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. HFM Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin during the third quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin during the fourth quarter worth approximately $31,000. NFSG Corp grew its holdings in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $964.01 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The stock's 50 day simple moving average is $931.48 and its 200-day simple moving average is $937.80. The company has a market cap of $121.55 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11. Parker-Hannifin Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $6.94 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PH has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research note on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,027.38.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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