Sustainable Insight Capital Management LLC Has $3.25 Million Stock Holdings in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Sustainable Insight Capital Management LLC increased its holdings in Parker-Hannifin by 7.4% in Q1, now owning 5,339 shares valued at approximately $3.25 million.
• Recent analyst reports show target price increases for Parker-Hannifin, with Wells Fargo and KeyCorp setting targets around $800, maintaining an "overweight" rating.
• Parker-Hannifin reported an EPS of $7.69 for the last quarter, surpassing analyst estimates, while revenue reached $5.24 billion, indicating a year-over-year growth of 1.1%.

Sustainable Insight Capital Management LLC raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,339 shares of the industrial products company's stock after acquiring an additional 369 shares during the quarter. Parker-Hannifin comprises approximately 1.6% of Sustainable Insight Capital Management LLC's holdings, making the stock its 20th largest position. Sustainable Insight Capital Management LLC's holdings in Parker-Hannifin were worth $3,245,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PH. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company's stock valued at $6,700,795,000 after buying an additional 168,990 shares during the period. Royal Bank of Canada increased its holdings in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after buying an additional 1,137,564 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after buying an additional 172,064 shares during the period. GAMMA Investing LLC increased its holdings in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after buying an additional 1,732,791 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Parker-Hannifin by 17.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company's stock valued at $1,018,185,000 after buying an additional 237,634 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the topic of several recent analyst reports. Raymond James Financial set a $845.00 target price on shares of Parker-Hannifin and gave the company an "outperform" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Parker-Hannifin in a research note on Friday, August 8th. KeyCorp boosted their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Barclays boosted their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Susquehanna started coverage on shares of Parker-Hannifin in a research note on Friday. They issued a "positive" rating and a $860.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $768.71.

Parker-Hannifin Stock Down 2.1%

NYSE PH traded down $15.66 during trading hours on Friday, reaching $729.68. 716,118 shares of the company's stock were exchanged, compared to its average volume of 730,332. The company's 50-day moving average is $705.53 and its two-hundred day moving average is $658.96. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $763.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company has a market capitalization of $93.24 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 3.09 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its 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 17.79%. The business had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same period in the prior year, the business earned $6.77 EPS. Parker-Hannifin's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insider Activity at Parker-Hannifin

In other news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the transaction, the vice president directly owned 2,798 shares of the company's stock, valued at $2,035,153.28. This trade represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,361 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,414 shares of company stock worth $6,883,931. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Company 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.