PCJ Investment Counsel Ltd. Has $912,000 Holdings in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• PCJ Investment Counsel Ltd. slashed its holdings in Parker-Hannifin Corporation by 78.6% during the first quarter, resulting in ownership of 1,500 shares valued at $912,000.
• Institutional investors significantly increased their stakes in Parker-Hannifin, with GAMMA Investing LLC growing their holdings by over 66,111% to own 1.73 million shares worth over $1 billion.
• In the latest earnings report, Parker-Hannifin delivered $7.69 earnings per share, surpassing analysts' expectations of $7.08, and reported revenue of $5.24 billion.

PCJ Investment Counsel Ltd. reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 78.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the industrial products company's stock after selling 5,500 shares during the quarter. PCJ Investment Counsel Ltd.'s holdings in Parker-Hannifin were worth $912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. GAMMA Investing LLC increased its holdings in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after buying an additional 1,732,791 shares during the period. Royal Bank of Canada grew its holdings in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the last quarter. Capital World Investors bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $418,174,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Parker-Hannifin by 6,912.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parker-Hannifin by 44.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company's stock worth $550,783,000 after purchasing an additional 265,768 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $725.80 on Friday. 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 Corporation has a 1 year low of $488.45 and a 1 year high of $745.34. The company has a market cap of $92.74 billion, a PE ratio of 27.95, a PEG ratio of 2.98 and a beta of 1.37. The company's 50-day moving average is $696.32 and its two-hundred day moving average is $656.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the company posted $6.77 EPS. The company's revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Barclays upped their target price on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Citigroup reaffirmed a "buy" rating and issued a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Finally, KeyCorp upped their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Five investment 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 presently has an average rating of "Moderate Buy" and an average 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.

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