Groupama Asset Managment Acquires 8,773 Shares of Parker-Hannifin Corporation $PH

Groupama Asset Managment boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,992 shares of the industrial products company’s stock after buying an additional 8,773 shares during the quarter. Parker-Hannifin makes up 2.3% of Groupama Asset Managment’s holdings, making the stock its 13th biggest holding. Groupama Asset Managment’s holdings in Parker-Hannifin were worth $156,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vestor Capital LLC lifted its holdings in shares of Parker-Hannifin by 442.2% in the first quarter. Vestor Capital LLC now owns 7,168 shares of the industrial products company’s stock worth $6,417,000 after acquiring an additional 5,846 shares during the last quarter. BankChampaign National Association bought a new stake in shares of Parker-Hannifin during the 1st quarter valued at approximately $1,248,000. Groupe la Francaise grew its holdings in shares of Parker-Hannifin by 136.9% during the 1st quarter. Groupe la Francaise now owns 41,341 shares of the industrial products company’s stock valued at $36,974,000 after purchasing an additional 23,891 shares during the last quarter. CCM Investment Advisers LLC acquired a new position in Parker-Hannifin during the 1st quarter worth approximately $202,000. Finally, Sonoma Allocations LLC increased its position in Parker-Hannifin by 39.3% during the 1st quarter. Sonoma Allocations LLC now owns 312 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. Truist Financial raised their target price on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Stifel Nicolaus increased their price target on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research note on Friday, April 10th. JPMorgan Chase & Co. reduced their price objective on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,027.38.

Parker-Hannifin Price Performance

PH stock opened at $978.14 on Friday. The company has a fifty day moving average price of $933.72 and a 200-day moving average price of $938.08. The company has a market capitalization of $123.33 billion, a P/E ratio of 36.08, a PEG ratio of 2.57 and a beta of 1.11. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $6.94 earnings per share. Parker-Hannifin’s revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Parker-Hannifin Company Profile

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.