Cooper Financial Group Has $544,000 Stake in Parker-Hannifin Corporation (NYSE:PH)

Cooper Financial Group raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.6% in the first quarter, Holdings Channel.com reports. The firm owned 895 shares of the industrial products company’s stock after buying an additional 63 shares during the period. Cooper Financial Group’s holdings in Parker-Hannifin were worth $544,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Manhattan CO. LLC. boosted its position in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock valued at $1,005,000 after buying an additional 15 shares during the period. Becker Capital Management Inc. raised its stake in shares of Parker-Hannifin by 3.4% during the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 16 shares during the last quarter. Nicolet Advisory Services LLC raised its stake in shares of Parker-Hannifin by 3.5% during the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 16 shares during the last quarter. Citizens National Bank Trust Department raised its stake in shares of Parker-Hannifin by 8.5% during the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 17 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in shares of Parker-Hannifin by 1.6% during the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company’s stock valued at $714,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PH. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Raymond James Financial upped their price objective on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp upped their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup reaffirmed a “buy” rating and set a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Finally, Evercore ISI upped their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $763.00.

Parker-Hannifin Price Performance

PH stock opened at $727.68 on Monday. The company has a market cap of $92.98 billion, a P/E ratio of 26.83, a PEG ratio of 3.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $745.34. The firm has a 50-day moving average of $697.59 and a 200 day moving average of $656.19.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 earnings per share. On average, sell-side analysts forecast 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.