PFG Advisors Trims Position in Parker-Hannifin Corporation (NYSE:PH)

PFG Advisors decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.6% during the first quarter, Holdings Channel reports. The institutional investor owned 576 shares of the industrial products company’s stock after selling 41 shares during the period. PFG Advisors’ holdings in Parker-Hannifin were worth $350,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $35,000. Chilton Capital Management LLC raised its position in shares of Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after buying an additional 60 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after buying an additional 45 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $737.90 on Friday. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $740.83. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $686.08 and a 200 day moving average price of $651.62. The stock has a market cap of $94.29 billion, a PE ratio of 28.41, a P/E/G ratio of 3.12 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $6.51 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president owned 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PH shares. Barclays raised their target price on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Wells Fargo & Company increased their price target on Parker-Hannifin from $670.00 to $770.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Finally, KeyCorp upped their price objective on Parker-Hannifin from $735.00 to $790.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $739.59.

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.