Advisors Asset Management Inc. Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Advisors Asset Management Inc. boosted its position in Parker-Hannifin Co. (NYSE:PH) by 3.2% during the 1st quarter, HoldingsChannel reports. The firm owned 8,612 shares of the industrial products company’s stock after purchasing an additional 270 shares during the period. Advisors Asset Management Inc.’s holdings in Parker-Hannifin were worth $4,786,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PH. Sachetta LLC purchased a new position in Parker-Hannifin in the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $26,000. First United Bank & Trust bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $29,000. Harbor Investment Advisory LLC raised its stake in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 1.7 %

NYSE PH traded up $9.48 on Friday, reaching $554.61. 544,023 shares of the stock traded hands, compared to its average volume of 766,415. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The company has a fifty day moving average price of $524.66 and a 200-day moving average price of $525.84. The company has a market cap of $71.29 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 2.09 and a beta of 1.44. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $5.93 EPS. As a group, research analysts forecast that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PH. Argus raised their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Truist Financial raised their price objective on Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Barclays decreased their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Stifel Nicolaus dropped their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $576.27.

Parker-Hannifin Company Profile

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.