Parker-Hannifin Corporation $PH Holdings Decreased by Keel Point LLC

Keel Point LLC reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 59.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 649 shares of the industrial products company’s stock after selling 958 shares during the period. Keel Point LLC’s holdings in Parker-Hannifin were worth $581,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PH. Brighton Jones LLC lifted its position in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC grew its position in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after buying an additional 32 shares during the last quarter. Empowered Funds LLC grew its position in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after buying an additional 15 shares during the last quarter. Acadian Asset Management LLC raised its stake in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 166 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 15 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.2%

Parker-Hannifin stock opened at $978.14 on Monday. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $123.33 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.61 and a beta of 1.12. The firm has a 50-day moving average price of $933.72 and a two-hundred day moving average price of $938.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. Parker-Hannifin’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $6.94 earnings per share. Sell-side analysts expect that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PH shares. Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Truist Financial increased their price target on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,027.38.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.