Cwm LLC Increases Position in Parker-Hannifin Co. (NYSE:PH)

Cwm LLC lifted its position in Parker-Hannifin Co. (NYSE:PH) by 22.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,710 shares of the industrial products company’s stock after purchasing an additional 692 shares during the quarter. Cwm LLC’s holdings in Parker-Hannifin were worth $1,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilbanks Smith & Thomas Asset Management LLC increased its stake in shares of Parker-Hannifin by 0.7% in the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. grew its stake in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 25 shares in the last quarter. Private Trust Co. NA grew its stake in Parker-Hannifin by 0.7% during the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after acquiring an additional 25 shares in the last quarter. Keel Point LLC grew its stake in Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock valued at $388,000 after acquiring an additional 25 shares in the last quarter. Finally, Caprock Group LLC grew its stake in Parker-Hannifin by 1.8% during the fourth quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock valued at $692,000 after acquiring an additional 26 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $549.38 on Friday. The firm has a 50-day moving average price of $542.60 and a 200-day moving average price of $476.62. The firm has a market capitalization of $70.55 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.00 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 12-month low of $309.89 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business earned $4.76 EPS. The business’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PH shares. Truist Financial started coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 target price for the company. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Barclays increased their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $515.38.

Insider Activity at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 in the last 90 days. 1.03% of the stock is owned by corporate insiders.

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.