Brentview Investment Management LLC Purchases 240 Shares of Parker-Hannifin Corporation (NYSE:PH)

Brentview Investment Management LLC raised its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,728 shares of the industrial products company’s stock after purchasing an additional 240 shares during the period. Brentview Investment Management LLC’s holdings in Parker-Hannifin were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock worth $1,699,580,000 after acquiring an additional 99,261 shares in the last quarter. Invesco Ltd. lifted its position in shares of Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after acquiring an additional 198,292 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after acquiring an additional 1,137,564 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock worth $1,282,294,000 after acquiring an additional 172,064 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock worth $1,054,870,000 after acquiring an additional 1,732,791 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PH. Evercore ISI increased their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Wells Fargo & Company increased their price objective on Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, Barclays increased their price objective on Parker-Hannifin from $700.00 to $750.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $739.59.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $731.89 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $689.76 and a 200-day moving average of $653.65. The firm has a market cap of $93.52 billion, a P/E ratio of 28.18, a P/E/G ratio of 3.14 and a beta of 1.34. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $745.34.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the business posted $6.51 earnings per share. Parker-Hannifin’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.