Brooklyn Investment Group Increases Stock Holdings in Parker-Hannifin Corporation $PH

Brooklyn Investment Group raised its stake in Parker-Hannifin Corporation (NYSE:PH) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,002 shares of the industrial products company’s stock after purchasing an additional 21 shares during the quarter. Brooklyn Investment Group’s holdings in Parker-Hannifin were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PH. GAMMA Investing LLC grew its stake in shares of Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after purchasing an additional 1,732,791 shares during the last quarter. Nuveen LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at approximately $933,089,000. Royal Bank of Canada grew its stake in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in shares of Parker-Hannifin by 6,912.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company’s stock valued at $198,742,000 after purchasing an additional 308,016 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Parker-Hannifin by 44.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company’s stock valued at $550,783,000 after purchasing an additional 265,768 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,361 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $732.66, for a total value of $3,195,130.26. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Angela R. Ives sold 810 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the transaction, the vice president directly owned 2,798 shares of the company’s stock, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,414 shares of company stock valued at $6,883,931. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several recent analyst reports. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Citigroup reissued a “buy” rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Susquehanna initiated coverage on Parker-Hannifin in a report on Friday. They issued a “positive” rating and a $860.00 price target for the company. Morgan Stanley raised their price target on Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Parker-Hannifin in a research report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $768.71.

Parker-Hannifin Stock Up 0.9%

PH opened at $736.63 on Tuesday. The business’s fifty day moving average is $706.86 and its two-hundred day moving average is $658.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company has a market cap of $94.12 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.03 and a beta of 1.37. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $763.99.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts’ consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Profile

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.