Crewe Advisors LLC Invests $38,000 in Parker-Hannifin Co. (NYSE:PH)

Crewe Advisors LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68 shares of the industrial products company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. Mutual Advisors LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $206,000. Raymond James & Associates lifted its position in Parker-Hannifin by 0.7% during the fourth quarter. Raymond James & Associates now owns 189,777 shares of the industrial products company’s stock valued at $87,430,000 after purchasing an additional 1,395 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Parker-Hannifin by 2.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,509 shares of the industrial products company’s stock valued at $24,191,000 after purchasing an additional 1,137 shares during the period. Pacer Advisors Inc. lifted its position in Parker-Hannifin by 32.8% during the fourth quarter. Pacer Advisors Inc. now owns 11,081 shares of the industrial products company’s stock valued at $5,105,000 after purchasing an additional 2,734 shares during the period. Finally, Schechter Investment Advisors LLC lifted its position in Parker-Hannifin by 12.4% during the fourth quarter. Schechter Investment Advisors LLC now owns 1,258 shares of the industrial products company’s stock valued at $580,000 after purchasing an additional 139 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 3.0 %

PH stock traded up $15.87 during mid-day trading on Thursday, hitting $545.13. 813,265 shares of the company were exchanged, compared to its average volume of 662,094. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $70.07 billion, a P/E ratio of 25.69, a PEG ratio of 2.11 and a beta of 1.44. The business has a fifty day simple moving average of $524.47 and a 200-day simple moving average of $525.17. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.93 earnings per share. On average, equities research analysts predict that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Raymond James started coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They set an “outperform” rating and a $610.00 target price on the stock. Bank of America boosted their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Argus boosted their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.