Rathbones Group PLC Raises Stake in Parker-Hannifin Corporation $PH

Key Points

• Rathbones Group increased its Parker-Hannifin stake by 44% in the first quarter, adding 49,598 shares to own 162,313 shares valued at approximately $145.3 million.
• Institutional investors own 82.44% of Parker-Hannifin, while analyst sentiment remains positive: 18 analysts rate the stock Buy and four rate it Hold, producing a “Moderate Buy” consensus and a $1,027.38 average price target.
• Parker-Hannifin recently beat quarterly estimates, reporting $8.17 in adjusted EPS versus $7.84 expected and $5.49 billion in revenue, up 10.6% year over year.

Rathbones Group PLC lifted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 44.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,313 shares of the industrial products company's stock after buying an additional 49,598 shares during the quarter. Rathbones Group PLC owned approximately 0.13% of Parker-Hannifin worth $145,309,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PH. Fideuram Asset Management Ireland dac purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,253,000. Truist Financial Corp raised its holdings in Parker-Hannifin by 2.7% in the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock worth $153,687,000 after purchasing an additional 4,673 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $3,800,000. BCS Wealth Management boosted its stake in shares of Parker-Hannifin by 83.3% during the 4th quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company's stock valued at $2,742,000 after purchasing an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $1,736,000. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PH has been the topic of several recent research reports. Evercore set a $1,064.00 price target on Parker-Hannifin in a research note on Monday, May 11th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Sanford C. Bernstein reiterated an "outperform" rating and set a $1,037.00 price objective on shares of Parker-Hannifin in a research note on Thursday, July 16th. Citigroup reissued a "buy" rating on shares of Parker-Hannifin in a report on Monday, June 8th. Finally, Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Stock Performance

Shares of PH opened at $978.14 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a one year low of $692.02 and a one year high of $1,034.96. The firm has a market capitalization of $123.33 billion, a P/E ratio of 36.08, a PEG ratio of 2.61 and a beta of 1.12. The business has a fifty day moving average of $933.72 and a 200 day moving average of $938.15.

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

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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