Russell Investments Group Ltd. Has $50.90 Million Holdings in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Russell Investments Group Ltd. decreased its stake in Parker-Hannifin Corporation by 2.6%, now holding 83,801 shares valued at approximately $50.90 million.
• Several analysts have raised their target prices for Parker-Hannifin, with a consensus target price now at $763.00 and a rating of "Moderate Buy".
• During the last quarter, insider transactions included COO Andrew D. Ross selling 4,361 shares, indicating shifts in management ownership.

Russell Investments Group Ltd. lessened its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,801 shares of the industrial products company's stock after selling 2,202 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Parker-Hannifin worth $50,895,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Parker-Hannifin by 27.2% in the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after buying an additional 6,630 shares during the last quarter. Alley Investment Management Company LLC acquired a new stake in Parker-Hannifin during the 1st quarter valued at $7,996,000. Community Financial Services Group LLC lifted its holdings in Parker-Hannifin by 1,338.2% during the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock valued at $4,030,000 after purchasing an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co acquired a new stake in Parker-Hannifin during the 1st quarter valued at $260,000. Finally, Banco Santander S.A. lifted its holdings in Parker-Hannifin by 70.2% during the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company's stock valued at $21,667,000 after purchasing an additional 14,705 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore ISI lifted 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. Morgan Stanley lifted their target price 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. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Finally, Stifel Nicolaus lifted their target price 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. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $763.00.

Parker-Hannifin Stock Up 1.4%

PH stock opened at $762.20 on Thursday. The company has a market cap of $97.39 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37. The business has a 50-day simple moving average of $702.68 and a 200 day simple moving average of $657.94. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $763.99. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm earned $6.77 earnings per share. Parker-Hannifin's revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,361 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the sale, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 575 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $733.06, for a total value of $421,509.50. Following the sale, the vice president owned 1,000 shares in the company, valued at approximately $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,414 shares of company stock valued at $6,883,931. Company insiders own 0.39% of the company's stock.

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.

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