Ted Buchan & Co Has $416,000 Position in Parker-Hannifin Corporation (NYSE:PH)

Ted Buchan & Co reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 685 shares of the industrial products company’s stock after selling 66 shares during the quarter. Ted Buchan & Co’s holdings in Parker-Hannifin were worth $416,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Parker-Hannifin by 27.2% during the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company’s stock worth $18,850,000 after purchasing an additional 6,630 shares during the period. Alley Investment Management Company LLC acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $7,996,000. Community Financial Services Group LLC lifted its stake in Parker-Hannifin by 1,338.2% in the first quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company’s stock valued at $4,030,000 after acquiring an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $260,000. Finally, Banco Santander S.A. lifted its stake in Parker-Hannifin by 70.2% in the first quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company’s stock valued at $21,667,000 after acquiring an additional 14,705 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,361 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $732.66, for a total transaction of $3,195,130.26. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $9,612,499.20. The trade was a 24.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the transaction, the vice president directly owned 5,465 shares in the company, valued at $3,986,717.50. This trade represents a 17.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,414 shares of company stock valued at $6,883,931 in the last three months. 0.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PH. KeyCorp lifted their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Morgan Stanley lifted their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Evercore ISI lifted their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Citigroup reiterated a “buy” rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Friday, August 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $763.00.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $762.20 on Thursday. The firm has a fifty day simple moving average of $702.68 and a 200-day simple moving average of $657.94. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $763.99. The stock has a market capitalization of $97.39 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 3.12 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.10 billion. During the same period in the previous year, the company earned $6.77 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current 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.