Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 7.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,766 shares of the industrial products company’s stock after selling 1,315 shares during the quarter. Independent Advisor Alliance’s holdings in Parker-Hannifin were worth $10,191,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $32,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin during the 1st quarter worth approximately $35,000. Chilton Capital Management LLC increased its position in Parker-Hannifin by 1,500.0% during the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Accent Capital Management LLC acquired a new stake in Parker-Hannifin during the 1st quarter worth approximately $41,000. Finally, Sierra Ocean LLC increased its position in Parker-Hannifin by 89.5% during the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Argus set a $680.00 target price on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Stifel Nicolaus upped their price target on Parker-Hannifin from $717.00 to $726.00 and gave the stock a “hold” rating in a report on Friday. Evercore ISI upped their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Finally, Barclays upped their price target on Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $763.00.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $727.68 on Monday. The stock has a market cap of $92.98 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $697.59 and a 200-day moving average of $656.19. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $745.34.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating the consensus estimate of $7.08 by $0.61. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 EPS. On average, analysts expect 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.