Advisor Partners LLC boosted its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,735 shares of the industrial products company’s stock after buying an additional 121 shares during the quarter. Advisor Partners LLC’s holdings in Parker-Hannifin were worth $972,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in PH. J.W. Cole Advisors Inc. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $238,000. Ballentine Partners LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $212,000. Pegasus Asset Management Inc. increased its holdings in shares of Parker-Hannifin by 2.5% in the fourth quarter. Pegasus Asset Management Inc. now owns 13,757 shares of the industrial products company’s stock valued at $2,831,000 after purchasing an additional 330 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $600,000. Finally, Wealthfront Advisers LLC increased its holdings in shares of Parker-Hannifin by 7.5% in the fourth quarter. Wealthfront Advisers LLC now owns 3,853 shares of the industrial products company’s stock valued at $793,000 after purchasing an additional 269 shares during the period. 80.18% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on PH shares. BMO Capital Markets increased their price objective on Parker-Hannifin to $210.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Gordon Haskett raised Parker-Hannifin from an “underperform” rating to a “hold” rating in a report on Monday, November 4th. Wolfe Research set a $189.00 price objective on Parker-Hannifin and gave the company a “hold” rating in a report on Friday, November 1st. Deutsche Bank increased their price objective on Parker-Hannifin from $215.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays started coverage on Parker-Hannifin in a report on Monday, November 18th. They issued an “overweight” rating and a $227.00 price objective on the stock. 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $203.46.
Parker-Hannifin stock opened at $198.28 on Friday. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.57. Parker-Hannifin Corp has a 52 week low of $152.18 and a 52 week high of $212.05. The business’s 50-day moving average price is $205.79 and its 200 day moving average price is $185.36. The company has a quick ratio of 1.53, a current ratio of 1.96 and a debt-to-equity ratio of 1.21.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.64 by $0.12. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.33 billion. Parker-Hannifin had a return on equity of 25.74% and a net margin of 10.41%. Parker-Hannifin’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $2.84 earnings per share. Equities analysts expect that Parker-Hannifin Corp will post 10.76 EPS for the current year.
In other Parker-Hannifin news, EVP Mark J. Hart sold 917 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $190.31, for a total transaction of $174,514.27. Following the transaction, the executive vice president now owns 14,719 shares in the company, valued at $2,801,172.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Catherine A. Suever sold 775 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $200.52, for a total value of $155,403.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,427 shares of company stock worth $2,263,771. 1.23% of the stock is owned by corporate insiders.
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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