Resona Asset Management Co. Ltd. grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 40,458 shares of the industrial products company's stock after buying an additional 2,984 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Parker-Hannifin were worth $24,553,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter worth about $32,000. Olde Wealth Management LLC acquired a new position in Parker-Hannifin in the first quarter worth about $35,000. Chilton Capital Management LLC raised its position in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Accent Capital Management LLC bought a new stake in Parker-Hannifin during the first quarter worth about $41,000. Finally, Sierra Ocean LLC increased its holdings in shares of Parker-Hannifin by 89.5% during the first quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.
Insider Activity at Parker-Hannifin
In other news, VP Matthew A. Jacobson sold 575 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the transaction, the vice president directly owned 1,000 shares of the company's stock, valued at $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction on 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 directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,414 shares of company stock valued at $6,883,931. 0.39% of the stock is owned by corporate insiders.
Parker-Hannifin Trading Down 2.1%
PH stock traded down $15.66 during midday trading on Friday, reaching $729.68. The company's stock had a trading volume of 716,118 shares, compared to its average volume of 730,332. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $763.99. The stock has a market cap of $93.24 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The business's 50-day simple moving average is $705.53 and its 200-day simple moving average is $658.96.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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 17.79% and a return on equity of 26.80%. The firm had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same period last year, the firm earned $6.77 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently weighed in on PH. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Finally, Evercore ISI raised their price objective 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. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $768.71.
Check Out Our Latest Research Report on Parker-Hannifin
About Parker-Hannifin
(
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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