Ingalls & Snyder LLC lowered its stake in Parker-Hannifin Corp (NYSE:PH) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,501 shares of the industrial products company’s stock after selling 268 shares during the quarter. Ingalls & Snyder LLC’s holdings in Parker-Hannifin were worth $1,750,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of PH. Nuveen Asset Management LLC boosted its stake in shares of Parker-Hannifin by 1,570.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,260,165 shares of the industrial products company’s stock worth $384,251,000 after acquiring an additional 2,124,824 shares during the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Parker-Hannifin by 99.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,529,745 shares of the industrial products company’s stock valued at $326,638,000 after purchasing an additional 1,260,312 shares during the period. Schroder Investment Management Group raised its position in shares of Parker-Hannifin by 90.7% during the 2nd quarter. Schroder Investment Management Group now owns 584,888 shares of the industrial products company’s stock valued at $99,437,000 after purchasing an additional 278,180 shares during the period. Bank of America Corp DE raised its position in shares of Parker-Hannifin by 18.1% during the 2nd quarter. Bank of America Corp DE now owns 1,277,486 shares of the industrial products company’s stock valued at $217,185,000 after purchasing an additional 195,624 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Parker-Hannifin by 114.0% during the 2nd quarter. AQR Capital Management LLC now owns 310,356 shares of the industrial products company’s stock valued at $52,464,000 after purchasing an additional 165,324 shares during the period. Institutional investors own 80.19% of the company’s stock.
In other news, CFO Catherine A. Suever sold 775 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $200.52, for a total value of $155,403.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew M. Weeks sold 3,750 shares of Parker-Hannifin stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.38, for a total transaction of $751,425.00. Over the last 90 days, insiders sold 11,427 shares of company stock worth $2,263,771. Insiders own 1.23% of the company’s stock.
Parker-Hannifin stock opened at $205.34 on Thursday. The company’s 50-day moving average price is $204.82 and its 200-day moving average price is $183.76. Parker-Hannifin Corp has a twelve month low of $152.18 and a twelve month high of $212.05. The company has a quick ratio of 1.53, a current ratio of 1.96 and a debt-to-equity ratio of 1.21. The company has a market cap of $26.56 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.10 and a beta of 1.57.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.12. Parker-Hannifin had a net margin of 10.41% and a return on equity of 25.74%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm posted $2.84 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Parker-Hannifin Corp will post 10.76 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Wolfe Research set a $189.00 price objective on shares of Parker-Hannifin and gave the company a “hold” rating in a research report on Friday, November 1st. Goldman Sachs Group upgraded shares of Parker-Hannifin from a “sell” rating to a “buy” rating and raised their price objective for the company from $180.00 to $230.00 in a research report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $193.00 to $209.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. BMO Capital Markets raised their price objective on shares of Parker-Hannifin to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Co upgraded shares of Parker-Hannifin from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $205.00 to $230.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Parker-Hannifin presently has an average rating of “Hold” and a consensus target price of $203.46.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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