Raiffeisen Bank International AG Invests $451,000 in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Raiffeisen Bank International AG has acquired a new stake in Parker-Hannifin Corporation, purchasing 750 shares valued at approximately $451,000 during the first quarter.
• Investment analysts have increased their price targets for Parker-Hannifin, with estimates ranging from $735.00 to $831.00, and the stock currently holds an average rating of "Moderate Buy".
• Institutional investors and hedge funds collectively own 82.44% of Parker-Hannifin’s stock, indicating strong institutional support for the company.

Raiffeisen Bank International AG bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 750 shares of the industrial products company's stock, valued at approximately $451,000.

Other large investors have also added to or reduced their stakes in the company. First Manhattan CO. LLC. boosted its holdings in Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after acquiring an additional 15 shares during the period. Becker Capital Management Inc. increased its position in shares of Parker-Hannifin by 3.4% during the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock worth $307,000 after acquiring an additional 16 shares during the period. Nicolet Advisory Services LLC increased its position in shares of Parker-Hannifin by 3.5% during the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock worth $262,000 after acquiring an additional 16 shares during the period. Citizens National Bank Trust Department raised its stake in shares of Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after acquiring an additional 17 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Parker-Hannifin by 1.6% in the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock valued at $714,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research note on Friday, May 16th. Barclays boosted their price target 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. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, KeyCorp boosted their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $739.59.

Parker-Hannifin Stock Performance

NYSE:PH traded up $28.67 during trading hours on Thursday, reaching $725.80. 1,243,145 shares of the company's stock were exchanged, compared to its average volume of 618,636. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $745.34. 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 has a market capitalization of $92.74 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 2.98 and a beta of 1.37. The company has a 50-day moving average of $695.14 and a 200 day moving average of $655.75.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the company posted $6.77 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin 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.