Pacer Advisors Inc. Has $7.12 Million Stock Holdings in Parker-Hannifin Corporation $PH

Pacer Advisors Inc. decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 31.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 7,955 shares of the industrial products company’s stock after selling 3,647 shares during the quarter. Pacer Advisors Inc.’s holdings in Parker-Hannifin were worth $7,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after buying an additional 22,305 shares in the last quarter. Capital World Investors increased its holdings in Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after buying an additional 16,703 shares during the last quarter. Morgan Stanley raised its position in Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after acquiring an additional 22,367 shares in the last quarter. Finally, Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth $1,756,230,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,037.00 price objective on shares of Parker-Hannifin in a research report on Thursday, July 16th. Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Truist Financial raised their price objective on 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. Finally, Wells Fargo & Company reduced their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,027.38.

Parker-Hannifin Trading Up 0.4%

Shares of NYSE:PH opened at $996.66 on Thursday. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The stock has a market cap of $125.67 billion, a PE ratio of 36.76, a P/E/G ratio of 2.65 and a beta of 1.12. The business has a 50 day moving average of $941.61 and a 200-day moving average of $939.33. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.

Parker-Hannifin 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.