Vestor Capital LLC Boosts Stake in Parker-Hannifin Corporation $PH

Key Points

• Vestor Capital increased its Parker-Hannifin stake by 442.2% in the first quarter, holding 7,168 shares valued at approximately $6.4 million. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly adjusted earnings of $8.17 per share and revenue of $5.49 billion, exceeding analyst estimates; revenue rose 10.6% year over year.
• Wall Street remains generally positive, with 18 Buy ratings and four Holds. The stock has a “Moderate Buy” consensus rating and an average price target of $1,027.38, compared with its recent price of $964.01.

Vestor Capital LLC lifted its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 442.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,168 shares of the industrial products company's stock after purchasing an additional 5,846 shares during the quarter. Vestor Capital LLC's holdings in Parker-Hannifin were worth $6,417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $1,756,230,000. Eurizon Capital SGR S.p.A. bought a new stake in Parker-Hannifin during the fourth quarter worth about $185,532,000. Focus Partners Wealth grew its holdings in Parker-Hannifin by 1,535.3% in the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after purchasing an additional 207,495 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Parker-Hannifin by 119.3% during the first quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock valued at $305,032,000 after purchasing an additional 185,367 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Parker-Hannifin by 36.4% during the first quarter. Amundi now owns 625,059 shares of the industrial products company's stock valued at $559,578,000 after purchasing an additional 166,962 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

PH stock opened at $964.01 on Friday. The stock's 50 day simple moving average is $931.48 and its 200 day simple moving average is $937.80. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The stock has a market capitalization of $121.55 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping analysts' consensus estimates of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.94 EPS. As a group, research analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PH shares. JPMorgan Chase & Co. reduced their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Truist Financial boosted their target price on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,027.38.

Parker-Hannifin Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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