Gulf International Bank UK Ltd boosted its position in Parker-Hannifin Corp (NYSE:PH) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,902 shares of the industrial products company’s stock after purchasing an additional 120 shares during the period. Gulf International Bank UK Ltd’s holdings in Parker-Hannifin were worth $5,303,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Parker-Hannifin by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 2,942,573 shares of the industrial products company’s stock valued at $541,228,000 after acquiring an additional 258,502 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Parker-Hannifin by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 950,375 shares of the industrial products company’s stock valued at $174,804,000 after acquiring an additional 4,249 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in Parker-Hannifin by 12.6% in the third quarter. First Republic Investment Management Inc. now owns 4,302 shares of the industrial products company’s stock valued at $791,000 after acquiring an additional 480 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Parker-Hannifin by 18.7% in the third quarter. Pacer Advisors Inc. now owns 7,072 shares of the industrial products company’s stock valued at $1,301,000 after acquiring an additional 1,116 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Parker-Hannifin by 1,727.3% in the third quarter. AQR Capital Management LLC now owns 152,473 shares of the industrial products company’s stock valued at $28,044,000 after acquiring an additional 144,129 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PH. Stifel Nicolaus lifted their target price on Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a report on Tuesday. Barclays lifted their target price on Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Robert W. Baird set a $180.00 price objective on Parker-Hannifin and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Morgan Stanley set a $172.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Finally, Vertical Research cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $182.00.
NYSE:PH opened at $189.92 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.52. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $193.19. The stock has a market capitalization of $24.57 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 1.76 and a beta of 1.46.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 31st. The industrial products company reported $2.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.10. Parker-Hannifin had a return on equity of 25.82% and a net margin of 9.69%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Corp will post 11.65 earnings per share for the current year.
In other news, Director Candy M. Obourn sold 926 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $162.18, for a total transaction of $150,178.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Roger S. Sherrard sold 2,040 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $171.80, for a total value of $350,472.00. Following the transaction, the vice president now owns 62,620 shares of the company’s stock, valued at $10,758,116. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,445 shares of company stock worth $1,814,218. Insiders own 1.12% of the company’s stock.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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