XTX Topco Ltd Boosts Stake in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• XTX Topco Ltd increased its investment in Parker-Hannifin Corporation by 64.5%, owning 1,709 shares worth approximately $1.04 million at the end of the first quarter.
• Parker-Hannifin has received multiple "overweight" ratings from analysts, with updated target prices ranging from $735.00 to $790.00.
• The company's stock is currently trading at $711.50, reflecting a 2.8% decrease, and has a market cap of $90.92 billion.

XTX Topco Ltd boosted its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 64.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,709 shares of the industrial products company's stock after purchasing an additional 670 shares during the quarter. XTX Topco Ltd's holdings in Parker-Hannifin were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth about $32,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the first quarter worth about $35,000. Chilton Capital Management LLC increased its stake in 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 worth $39,000 after purchasing an additional 60 shares during the period. Finally, Sierra Ocean LLC increased its stake in Parker-Hannifin by 89.5% during the first quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PH shares. KeyCorp increased their price objective on 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 upped their price target on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Barclays upped their price target on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Evercore ISI upped their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $739.59.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $27.97 during midday trading on Thursday, hitting $725.10. 827,482 shares of the company's stock were exchanged, compared to its average volume of 754,481. The company has a quick ratio of 0.70, a current ratio of 1.21 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's 50 day moving average price is $695.14 and its 200 day moving average price is $655.75. The firm has a market capitalization of $92.65 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 3.05 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. During the same quarter in the prior year, the company posted $6.77 earnings per share. The company's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin 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.