Klingman & Associates LLC Raises Position in Parker-Hannifin Corporation (NYSE:PH)

Klingman & Associates LLC grew its position in Parker-Hannifin Corporation (NYSE:PH) by 4.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 437 shares of the industrial products company’s stock after purchasing an additional 18 shares during the quarter. Klingman & Associates LLC’s holdings in Parker-Hannifin were worth $266,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin during the 4th quarter valued at about $32,000. Olde Wealth Management LLC purchased a new stake in Parker-Hannifin during the first quarter valued at $35,000. Chilton Capital Management LLC boosted its position 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 worth $39,000 after purchasing an additional 60 shares during the last quarter. Accent Capital Management LLC purchased a new position in Parker-Hannifin in the first quarter worth about $41,000. Finally, Sierra Ocean LLC boosted its position in Parker-Hannifin by 89.5% in the first quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 34 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho set a $785.00 target price on Parker-Hannifin in a research report on Friday, May 16th. Barclays raised their target price on Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Stifel Nicolaus raised their target price on Parker-Hannifin from $717.00 to $726.00 and gave the stock a “hold” rating in a research report on Friday, August 8th. Citigroup reissued a “buy” rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Finally, Morgan Stanley raised their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $763.00.

Parker-Hannifin Trading Up 1.4%

Shares of PH stock opened at $762.20 on Thursday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $763.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The firm has a market capitalization of $97.39 billion, a PE ratio of 28.10, a PEG ratio of 3.12 and a beta of 1.37. The stock has a fifty day simple moving average of $702.68 and a two-hundred day simple moving average of $657.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. Parker-Hannifin’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 EPS. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. The trade was a 17.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Angela R. Ives sold 810 shares of Parker-Hannifin stock in a transaction on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the sale, the vice president owned 2,798 shares in the company, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,414 shares of company stock worth $6,883,931 in the last 90 days. 0.39% of the stock is owned by company insiders.

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.