WIM INVESTMENT MANAGEMENT Ltd Grows Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• WIM INVESTMENT MANAGEMENT Ltd increased its stake in Parker-Hannifin Corporation by 44.2%, now owning 8,290 shares valued at approximately $5.04 million as of the latest reporting period.
• Parker-Hannifin reported earnings per share (EPS) of $6.94, exceeding analysts' estimates of $6.72, although revenue was down 2.2% year-over-year at $4.96 billion.
• Approximately 82.44% of Parker-Hannifin's stock is currently held by institutional investors and hedge funds, indicating strong institutional interest.

WIM INVESTMENT MANAGEMENT Ltd boosted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 44.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,290 shares of the industrial products company's stock after buying an additional 2,540 shares during the period. Parker-Hannifin makes up about 2.1% of WIM INVESTMENT MANAGEMENT Ltd's holdings, making the stock its 11th biggest position. WIM INVESTMENT MANAGEMENT Ltd's holdings in Parker-Hannifin were worth $5,039,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PH. Geode Capital Management LLC lifted its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after acquiring an additional 99,261 shares during the period. Invesco Ltd. boosted its position in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after purchasing an additional 198,292 shares in the last quarter. Royal Bank of Canada grew its holdings in Parker-Hannifin by 99.8% in the fourth 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 purchasing an additional 1,137,564 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Parker-Hannifin by 9.3% in the fourth 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Parker-Hannifin by 66,111.8% during the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after buying an additional 1,732,791 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 0.1%

Shares of PH opened at $739.31 on Tuesday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $745.35. The firm has a market capitalization of $94.47 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock's fifty day simple moving average is $687.27 and its 200 day simple moving average is $652.54.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (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 firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company earned $6.51 EPS. The company's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on PH. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Evercore ISI raised their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus 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.

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