Bowen Hanes & Co. Inc. Has $57.65 Million Stock Holdings in Parker-Hannifin Corporation $PH

Bowen Hanes & Co. Inc. lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,840 shares of the industrial products company’s stock after buying an additional 13,955 shares during the period. Parker-Hannifin comprises 1.6% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 27th largest position. Bowen Hanes & Co. Inc. owned 0.07% of Parker-Hannifin worth $57,648,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Manhattan CO. LLC. increased its holdings in Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares in the last quarter. Cascade Financial Partners LLC increased its holdings in Parker-Hannifin by 3.1% during the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 15 shares in the last quarter. Becker Capital Management Inc. increased its holdings in Parker-Hannifin by 3.4% during the 4th quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 16 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in Parker-Hannifin by 3.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 16 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its holdings in Parker-Hannifin by 5.0% during the 1st quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PH shares. Raymond James Financial set a $845.00 target price on Parker-Hannifin and gave the stock an “outperform” rating in a report on Friday, August 8th. KeyCorp raised their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Parker-Hannifin in a report on Friday, August 8th. Finally, Barclays raised their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $768.71.

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 575 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $733,060. The trade was a 36.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 9,414 shares of company stock valued at $6,883,931. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $736.63 on Tuesday. The company’s 50 day simple moving average is $706.86 and its 200 day simple moving average is $658.80. The stock has a market capitalization of $94.12 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $763.99.

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