Charles Schwab Investment Management Inc. Acquires 11,815 Shares of Parker-Hannifin Corporation (NYSE:PH)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,594,347 shares of the industrial products company’s stock after acquiring an additional 11,815 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Parker-Hannifin were worth $969,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. SG Americas Securities LLC boosted its stake in shares of Parker-Hannifin by 27.2% during the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company’s stock valued at $18,850,000 after purchasing an additional 6,630 shares in the last quarter. Alley Investment Management Company LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter valued at $7,996,000. Community Financial Services Group LLC grew its position in shares of Parker-Hannifin by 1,338.2% in the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company’s stock worth $4,030,000 after buying an additional 6,169 shares during the period. Heartland Bank & Trust Co bought a new position in shares of Parker-Hannifin in the 1st quarter worth about $260,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Parker-Hannifin by 44.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 865,970 shares of the industrial products company’s stock valued at $550,783,000 after acquiring an additional 265,768 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. KeyCorp raised their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Evercore ISI raised their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $709.00 to $717.00 and gave the company a “hold” rating in a research note on Monday, July 21st. Morgan Stanley increased their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $739.59.

Parker-Hannifin Stock Down 2.5%

PH opened at $696.70 on Thursday. The stock has a market capitalization of $89.02 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.05 and a beta of 1.37. The firm has a 50 day moving average price of $695.14 and a 200-day moving average price of $655.75. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month 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.

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.