Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Stock Holdings in Parker-Hannifin Corporation $PH

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,104 shares of the industrial products company’s stock after selling 850 shares during the quarter. Parker-Hannifin comprises about 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 17th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Parker-Hannifin were worth $191,772,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Procyon Advisors LLC lifted its holdings in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Parker-Hannifin by 0.6% during the third quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock valued at $2,960,266,000 after acquiring an additional 22,706 shares in the last quarter. Capital World Investors increased its position in shares of Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after acquiring an additional 169,073 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Parker-Hannifin by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after acquiring an additional 13,309 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Parker-Hannifin by 0.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company’s stock valued at $619,480,000 after purchasing an additional 4,454 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research note on Thursday, January 29th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a report on Friday, April 10th. Morgan Stanley increased their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.60.

Parker-Hannifin Stock Down 1.9%

PH stock opened at $954.08 on Thursday. The firm has a market cap of $120.42 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.13 and a beta of 1.25. Parker-Hannifin Corporation has a 1-year low of $576.26 and a 1-year high of $1,034.96. The firm has a fifty day moving average price of $953.27 and a two-hundred day moving average price of $892.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same period in the prior year, the company posted $6.53 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Research analysts predict that Parker-Hannifin Corporation will post 30.99 EPS for the current year.

Insider Buying and Selling

In other news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.