TIAA Trust National Association Has $16.96 Million Stock Holdings in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• TIAA Trust National Association increased its stake in Parker-Hannifin Corporation by 5.5%, owning 27,904 shares worth approximately $16.96 million as of the end of the last quarter.
• The company's quarterly earnings report revealed an EPS of $6.94, surpassing analysts' expectations, while revenues fell 2.2% year-over-year to $4.96 billion.
• Parker-Hannifin has a market capitalization of $90.92 billion and is currently rated as a "Moderate Buy" with an average target price of $739.59.

TIAA Trust National Association raised its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,904 shares of the industrial products company's stock after acquiring an additional 1,445 shares during the period. TIAA Trust National Association's holdings in Parker-Hannifin were worth $16,962,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PH. Brighton Jones LLC raised its holdings in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after buying an additional 101 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Parker-Hannifin by 0.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock worth $4,617,000 after buying an additional 55 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $23,876,000. Oarsman Capital Inc. raised its holdings in shares of Parker-Hannifin by 29.6% during the 4th quarter. Oarsman Capital Inc. now owns 1,972 shares of the industrial products company's stock worth $1,254,000 after buying an additional 450 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $48,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Trading Down 2.8%

NYSE PH opened at $711.50 on Friday. The business's 50-day moving average price is $692.39 and its two-hundred day moving average price is $654.74. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $745.34. The firm has a market capitalization of $90.92 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.04 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 EPS. The business's revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research analyst reports. Citigroup reissued a "buy" rating and set a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Truist Financial lowered their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley upped their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, Evercore ISI upped their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $739.59.

About Parker-Hannifin

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.