Cooper Financial Group Has $391,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Cooper Financial Group lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 14.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 773 shares of the industrial products company’s stock after selling 133 shares during the period. Cooper Financial Group’s holdings in Parker-Hannifin were worth $391,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Harbor Investment Advisory LLC grew its holdings in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Sachetta LLC bought a new stake in Parker-Hannifin during the 4th quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 1st quarter worth about $31,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin in the fourth quarter valued at about $26,000. Finally, First United Bank & Trust acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial reissued a “buy” rating and set a $673.00 target price (up previously from $621.00) on shares of Parker-Hannifin in a research report on Friday. Raymond James began coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They issued an “outperform” rating and a $610.00 price target on the stock. Finally, Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their price target for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $615.43.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE PH traded up $3.17 during trading on Tuesday, hitting $570.95. The stock had a trading volume of 256,782 shares, compared to its average volume of 667,266. The firm has a fifty day moving average of $526.87 and a two-hundred day moving average of $532.71. The company has a market capitalization of $73.39 billion, a PE ratio of 26.70, a PEG ratio of 1.98 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $576.54.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the business posted $6.08 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

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.