King Luther Capital Management Corp Lowers Position in Parker-Hannifin Corporation (NYSE:PH)

King Luther Capital Management Corp lessened its holdings in Parker-Hannifin Corporation (NYSE:PH) by 0.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 138,408 shares of the industrial products company’s stock after selling 1,311 shares during the period. King Luther Capital Management Corp’s holdings in Parker-Hannifin were worth $84,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $32,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the first quarter valued at about $35,000. Chilton Capital Management LLC raised its position in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Parker-Hannifin during the first quarter valued at about $41,000. Finally, Sierra Ocean LLC raised its position in Parker-Hannifin by 89.5% during the first quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.3%

NYSE PH opened at $727.68 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.70. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $745.34. The business’s 50-day moving average is $697.59 and its 200 day moving average is $656.35. The stock has a market capitalization of $92.98 billion, a PE ratio of 26.83, a PEG ratio of 3.11 and a beta of 1.37.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial raised their price objective on Parker-Hannifin from $735.00 to $845.00 and gave the company an “outperform” rating in a research note on Friday. Evercore ISI raised their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. 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, Argus set a $680.00 price objective on Parker-Hannifin in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $763.00.

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.