Parker-Hannifin Corp (PH) Position Boosted by Bank of Stockton

Bank of Stockton increased its position in shares of Parker-Hannifin Corp (NYSE:PH) by 6.0% in the first quarter, HoldingsChannel.com reports. The firm owned 9,218 shares of the industrial products company’s stock after purchasing an additional 525 shares during the quarter. Bank of Stockton’s holdings in Parker-Hannifin were worth $1,581,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $357,950,000. Longview Partners Guernsey LTD boosted its position in Parker-Hannifin by 41.6% in the 4th quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock valued at $839,079,000 after buying an additional 1,653,011 shares during the period. Pennsylvania Trust Co raised its holdings in shares of Parker-Hannifin by 29,994.5% in the 1st quarter. Pennsylvania Trust Co now owns 1,625,103 shares of the industrial products company’s stock valued at $117,980,000 after purchasing an additional 1,619,703 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Parker-Hannifin by 3.7% in the 4th quarter. BlackRock Inc. now owns 8,457,062 shares of the industrial products company’s stock valued at $1,261,286,000 after purchasing an additional 299,331 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Parker-Hannifin by 18.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,739,098 shares of the industrial products company’s stock valued at $259,369,000 after purchasing an additional 270,202 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Candy M. Obourn sold 926 shares of the stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $162.18, for a total transaction of $150,178.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Andrew M. Weeks sold 4,520 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $176.70, for a total transaction of $798,684.00. The disclosure for this sale can be found here. Insiders sold a total of 10,445 shares of company stock worth $1,814,218 over the last ninety days. Insiders own 1.12% of the company’s stock.

Several research firms recently commented on PH. Morgan Stanley set a $172.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $181.00 to $171.00 in a research note on Friday, February 1st. Robert W. Baird set a $170.00 price objective on shares of Parker-Hannifin and gave the stock a “buy” rating in a research note on Friday, January 25th. Vertical Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Friday, February 1st. Finally, Barclays reduced their price objective on shares of Parker-Hannifin from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $182.00.

PH stock opened at $188.62 on Wednesday. The firm has a market capitalization of $24.30 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.76 and a beta of 1.46. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74. Parker-Hannifin Corp has a 12 month low of $140.82 and a 12 month high of $193.19.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 31st. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.41 by $0.10. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.45 billion. Parker-Hannifin had a net margin of 9.69% and a return on equity of 25.82%. During the same period in the prior year, the firm earned $2.15 EPS. On average, research analysts expect that Parker-Hannifin Corp will post 11.65 EPS for the current fiscal year.

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Parker-Hannifin Company Profile

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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Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corp (NYSE:PH).

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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