Meeder Advisory Services Inc. Increases Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Meeder Advisory Services Inc. lifted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,036 shares of the industrial products company’s stock after buying an additional 116 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Parker-Hannifin were worth $3,061,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Parker-Hannifin by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock valued at $1,699,580,000 after purchasing an additional 99,261 shares during the period. Invesco Ltd. boosted its holdings in Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock valued at $1,591,810,000 after purchasing an additional 198,292 shares during the period. Royal Bank of Canada boosted its holdings in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock valued at $1,282,294,000 after purchasing an additional 172,064 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after purchasing an additional 1,732,791 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Barclays raised their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Evercore ISI raised their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Wolfe Research cut shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $739.59.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $739.31 on Tuesday. The firm has a fifty day simple moving average of $687.27 and a two-hundred day simple moving average of $652.54. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $745.35. The company has a market capitalization of $94.47 billion, a PE ratio of 28.47, a P/E/G ratio of 3.15 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

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

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president owned 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

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.