TRUE Private Wealth Advisors purchased a new position in shares of Parker-Hannifin Corp (NYSE:PH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 205 shares of the industrial products company’s stock, valued at approximately $34,000.
A number of other institutional investors and hedge funds have also bought and sold shares of PH. Geode Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 1,708,007 shares of the industrial products company’s stock valued at $254,281,000 after acquiring an additional 128,514 shares during the period. Beutel Goodman & Co Ltd. lifted its holdings in shares of Parker-Hannifin by 1.7% during the first quarter. Beutel Goodman & Co Ltd. now owns 1,269,433 shares of the industrial products company’s stock valued at $163,025,000 after acquiring an additional 21,236 shares during the period. Jennison Associates LLC lifted its holdings in shares of Parker-Hannifin by 9.0% during the first quarter. Jennison Associates LLC now owns 770,977 shares of the industrial products company’s stock valued at $132,315,000 after acquiring an additional 63,536 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Parker-Hannifin by 23.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 683,224 shares of the industrial products company’s stock valued at $101,897,000 after acquiring an additional 131,234 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Parker-Hannifin by 1.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 608,036 shares of the industrial products company’s stock valued at $103,371,000 after acquiring an additional 11,196 shares during the period. Hedge funds and other institutional investors own 79.78% of the company’s stock.
A number of brokerages have issued reports on PH. Morgan Stanley lifted their price objective on Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Citigroup lifted their price target on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 6th. JPMorgan Chase & Co. cut Parker-Hannifin from an “overweight” rating to a “neutral” rating and cut their price target for the company from $186.00 to $169.00 in a report on Wednesday, July 10th. Goldman Sachs Group cut Parker-Hannifin from a “neutral” rating to a “sell” rating and cut their price target for the company from $178.00 to $150.00 in a report on Tuesday, July 16th. Finally, Zacks Investment Research cut Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price target for the company. in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $176.55.
Shares of Parker-Hannifin stock traded up $4.20 during trading on Friday, reaching $161.82. The company’s stock had a trading volume of 685,500 shares, compared to its average volume of 886,887. The stock has a 50-day moving average price of $168.44 and a two-hundred day moving average price of $170.82. The company has a current ratio of 2.43, a quick ratio of 1.90 and a debt-to-equity ratio of 1.09. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $193.19. The stock has a market capitalization of $20.22 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.53.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.22. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.22 earnings per share. As a group, sell-side analysts anticipate that Parker-Hannifin Corp will post 11.95 EPS for the current fiscal year.
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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