Financial Management Network Inc. Sells 55 Shares of Parker-Hannifin Corporation (NYSE:PH)

Financial Management Network Inc. cut its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 416 shares of the industrial products company’s stock after selling 55 shares during the period. Financial Management Network Inc.’s holdings in Parker-Hannifin were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC bought a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $35,000. Chilton Capital Management LLC raised its holdings in shares of 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 buying an additional 60 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock worth $42,000 after buying an additional 45 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 1.1%

Shares of NYSE PH opened at $737.90 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $94.29 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34. The stock’s fifty day simple moving average is $686.08 and its two-hundred day simple moving average is $651.77. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $740.83.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.51 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Stifel Nicolaus increased their price target on Parker-Hannifin from $709.00 to $717.00 and gave the stock a “hold” rating in a report on Monday, July 21st. Morgan Stanley increased their price target on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Truist Financial reduced their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Evercore ISI increased their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $739.59.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president owned 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.39% of the company’s stock.

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.