Kirtland Hills Capital Management LLC Buys 200 Shares of Parker-Hannifin Corporation (NYSE:PH)

Kirtland Hills Capital Management LLC boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,405 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Parker-Hannifin were worth $1,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the 4th quarter worth about $32,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin in the 1st quarter worth about $35,000. Chilton Capital Management LLC raised its holdings in shares of Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 60 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Parker-Hannifin by 214.3% during the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. 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. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Truist Financial cut their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $670.00 to $770.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $739.59.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $739.31 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $745.35. The business’s 50 day simple moving average is $687.27 and its two-hundred day simple moving average is $652.54. The stock has a market capitalization of $94.47 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $6.51 earnings per share. Analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS 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.