West Michigan Advisors LLC Takes Position in Parker-Hannifin Corporation (NYSE:PH)

West Michigan Advisors LLC acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 380 shares of the industrial products company's stock, valued at approximately $231,000.

A number of other institutional investors also recently modified their holdings of the company. First Manhattan CO. LLC. boosted its stake in shares of Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 15 shares during the last quarter. Becker Capital Management Inc. lifted its position in shares of Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after acquiring an additional 16 shares during the period. Nicolet Advisory Services LLC lifted its position in shares of Parker-Hannifin by 3.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company's stock valued at $262,000 after acquiring an additional 16 shares during the period. Citizens National Bank Trust Department lifted its position in shares of Parker-Hannifin by 8.5% during the 1st quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after acquiring an additional 17 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in shares of Parker-Hannifin by 1.6% during the 1st quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock valued at $714,000 after acquiring an additional 18 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the topic of a number of research reports. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research report on Friday, May 16th. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. KeyCorp boosted their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Truist Financial dropped their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup reiterated a "buy" rating and set a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus target price of $739.59.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $714.66 on Wednesday. The firm has a 50-day moving average of $694.53 and a 200-day moving average of $655.47. The company has a market cap of $91.32 billion, a P/E ratio of 27.52, a P/E/G ratio of 3.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $745.34.

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.

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