US Bancorp DE Purchases 2,740 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• US Bancorp DE increased its stake in Parker-Hannifin Corporation by 3.6%, purchasing an additional 2,740 shares, resulting in a total ownership of 79,582 shares worth approximately $48.4 million.
• Parker-Hannifin reported an earnings per share (EPS) of $6.94 for the last quarter, exceeding analysts' expectations, although its revenue declined 2.2% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Parker-Hannifin, with a price target averaging around $739.59, reflecting a positive outlook for the company's stock.

US Bancorp DE raised its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,582 shares of the industrial products company's stock after acquiring an additional 2,740 shares during the quarter. US Bancorp DE owned approximately 0.06% of Parker-Hannifin worth $48,375,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $32,000. Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin during the first quarter valued at approximately $35,000. Chilton Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 60 shares during the last quarter. Finally, Sierra Ocean LLC lifted 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 valued at $44,000 after purchasing an additional 34 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 2.8%

NYSE:PH opened at $711.50 on Friday. 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 Corporation has a 12 month low of $488.45 and a 12 month high of $745.34. The company has a market cap of $90.92 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37. The company has a 50 day simple moving average of $692.39 and a two-hundred day simple moving average of $654.75.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $709.00 to $717.00 and gave the company a "hold" rating in a report on Monday, July 21st. KeyCorp lifted their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, Truist Financial decreased their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $739.59.

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.

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