95 Shares in Parker-Hannifin Corporation (NYSE:PH) Acquired by Cheviot Value Management LLC

Cheviot Value Management LLC purchased a new position in Parker-Hannifin Corporation (NYSE:PH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 95 shares of the industrial products company’s stock, valued at approximately $59,000.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after acquiring an additional 198,292 shares during the last quarter. Royal Bank of Canada lifted its stake 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 worth $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Parker-Hannifin by 9.3% during 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 last quarter. GAMMA Investing LLC grew its position in shares of 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 valued at $1,054,870,000 after purchasing an additional 1,732,791 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Parker-Hannifin by 17.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,600,842 shares of the industrial products company’s stock worth $1,018,185,000 after purchasing an additional 237,634 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PH shares. Barclays increased their price target on Parker-Hannifin from $700.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Citigroup reiterated a “buy” rating and set a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $709.00 to $717.00 and gave the company a “hold” rating in a research note on Monday, July 21st. Finally, Evercore ISI lifted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $739.59.

Parker-Hannifin Price Performance

PH opened at $711.50 on Monday. The business has a fifty day moving average of $692.39 and a 200 day moving average of $654.71. The stock has a market cap of $90.92 billion, a P/E ratio of 27.40, a PEG ratio of 3.04 and a beta of 1.37. 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 Corporation has a 52-week low of $488.45 and a 52-week high of $745.34.

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

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.