Geneos Wealth Management Inc. Grows Holdings in Parker-Hannifin Corporation (NYSE:PH)

Geneos Wealth Management Inc. grew its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 86.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,393 shares of the industrial products company’s stock after purchasing an additional 1,578 shares during the period. Geneos Wealth Management Inc.’s holdings in Parker-Hannifin were worth $2,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $32,000. Olde Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $35,000. Chilton Capital Management LLC increased its stake in Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 60 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Parker-Hannifin by 214.3% during 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 during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 0.4%

Shares of NYSE:PH opened at $731.89 on Thursday. The company has a market capitalization of $93.52 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.34. The company has a 50 day moving average of $689.76 and a two-hundred day moving average of $653.65. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $745.34. 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 results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share 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 business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the business earned $6.51 EPS. The business’s revenue was down 2.2% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on PH. Barclays lifted their price target on Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Citigroup restated a “buy” rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. KeyCorp lifted their price target on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.59.

Parker-Hannifin Company 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.