Steward Partners Investment Advisory LLC Sells 32 Shares of Parker-Hannifin Corporation $PH

Steward Partners Investment Advisory LLC reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 0.2% during the 1st quarter, Holdings Channel reports. The firm owned 13,929 shares of the industrial products company’s stock after selling 32 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Parker-Hannifin were worth $8,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. GAMMA Investing LLC lifted its holdings in Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock worth $1,054,870,000 after acquiring an additional 1,732,791 shares in the last quarter. Nuveen LLC bought a new position in Parker-Hannifin during the first quarter worth about $933,089,000. Royal Bank of Canada lifted its holdings in Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after acquiring an additional 1,137,564 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Parker-Hannifin by 6,912.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company’s stock worth $198,742,000 after acquiring an additional 308,016 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Parker-Hannifin by 44.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company’s stock worth $550,783,000 after acquiring an additional 265,768 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PH. Susquehanna began coverage on Parker-Hannifin in a report on Friday. They set a “positive” rating and a $860.00 target price on the stock. Barclays lifted their target price on Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Citigroup reissued a “buy” rating and issued a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their price target on Parker-Hannifin from $770.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $768.71.

Parker-Hannifin Price Performance

NYSE:PH opened at $736.63 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The stock’s 50-day simple moving average is $706.86 and its 200 day simple moving average is $658.80. The company has a market cap of $94.12 billion, a P/E ratio of 27.16, a P/E/G ratio of 3.03 and a beta of 1.37. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $763.99.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. Parker-Hannifin’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 earnings per share. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insider Activity

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company’s stock, valued at $2,035,153.28. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the transaction, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This trade represents a 17.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,414 shares of company stock valued at $6,883,931. 0.39% of the stock is owned by insiders.

About Parker-Hannifin

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.