Public Sector Pension Investment Board cut its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,905 shares of the industrial products company's stock after selling 10,759 shares during the quarter. Parker-Hannifin comprises approximately 0.5% of Public Sector Pension Investment Board's holdings, making the stock its 29th biggest position. Public Sector Pension Investment Board owned approximately 0.16% of Parker-Hannifin worth $125,767,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PH. Brighton Jones LLC grew its position in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after purchasing an additional 101 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in Parker-Hannifin by 0.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock worth $4,617,000 after purchasing an additional 55 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Parker-Hannifin by 6.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 108,323 shares of the industrial products company's stock valued at $68,891,000 after buying an additional 6,447 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Parker-Hannifin by 2.0% during the 4th quarter. Townsquare Capital LLC now owns 5,379 shares of the industrial products company's stock worth $3,421,000 after acquiring an additional 104 shares during the period. Finally, Optimize Financial Inc bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $227,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PH. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Wells Fargo & Company lifted their target price on Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Raymond James Financial set a $845.00 target price on shares of Parker-Hannifin and gave the stock an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday, August 8th. Finally, Evercore ISI upped their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $763.00.
Get Our Latest Analysis on PH
Insider Activity at Parker-Hannifin
In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the sale, the vice president directly owned 2,798 shares in the company, valued at $2,035,153.28. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the transaction, the vice president owned 5,465 shares of the company's stock, valued at $3,986,717.50. This represents a 17.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,414 shares of company stock valued at $6,883,931 in the last 90 days. 0.39% of the stock is currently owned by company insiders.
Parker-Hannifin Stock Down 2.1%
Shares of PH stock traded down $15.80 during trading hours on Thursday, reaching $746.25. The company had a trading volume of 695,117 shares, compared to its average volume of 755,627. The company has a market cap of $95.36 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $763.99. The business has a fifty day simple moving average of $702.68 and a 200-day simple moving average of $657.94.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 EPS. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Profile
(
Free Report)
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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