Yousif Capital Management LLC Cuts Holdings in Parker-Hannifin Co. (NYSE:PH)

Yousif Capital Management LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,767 shares of the industrial products company’s stock after selling 883 shares during the quarter. Yousif Capital Management LLC’s holdings in Parker-Hannifin were worth $8,185,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PH. GAMMA Investing LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth approximately $548,000. Beaumont Asset Management L.L.C. boosted its stake in Parker-Hannifin by 0.8% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after buying an additional 24 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Parker-Hannifin by 49.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 379 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 125 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Parker-Hannifin by 6.4% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 190,553 shares of the industrial products company’s stock valued at $88,512,000 after buying an additional 11,523 shares during the period. Finally, PDS Planning Inc purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $230,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PH. Barclays increased their target price on Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Evercore ISI increased their price target 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. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was 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 owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $540.00 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $69.34 billion, a P/E ratio of 27.05, a P/E/G ratio of 2.01 and a beta of 1.52. The business has a fifty day simple moving average of $542.05 and a two-hundred day simple moving average of $476.11. Parker-Hannifin Co. has a 12 month low of $309.89 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company posted $4.76 EPS. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Company 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.