Parker-Hannifin Co. (NYSE:PH) Stock Holdings Increased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,535 shares of the industrial products company’s stock after purchasing an additional 982 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Parker-Hannifin were worth $30,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after buying an additional 105,475 shares during the last quarter. Norges Bank acquired a new position in Parker-Hannifin in the fourth quarter worth approximately $665,188,000. Alphinity Investment Management Pty Ltd increased its holdings in Parker-Hannifin by 42.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after buying an additional 336,370 shares during the last quarter. Baird Financial Group Inc. increased its holdings in Parker-Hannifin by 3.7% in the fourth quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock worth $320,173,000 after buying an additional 25,060 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Parker-Hannifin by 11.8% in the fourth quarter. Wells Fargo & Company MN now owns 630,306 shares of the industrial products company’s stock worth $290,382,000 after buying an additional 66,331 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.7 %

Shares of Parker-Hannifin stock traded down $3.98 during trading on Monday, hitting $550.63. 187,952 shares of the company were exchanged, compared to its average volume of 657,981. The firm has a market capitalization of $70.78 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $570.15. The firm’s fifty day moving average price is $524.66 and its 200 day moving average price is $526.78. 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 (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.93 EPS. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on PH. Bank of America increased their price target on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Argus increased their price target on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Raymond James began coverage on Parker-Hannifin in a report on Friday, June 28th. They set an “outperform” rating and a $610.00 price target on the stock. Stifel Nicolaus lowered their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $576.27.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’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 value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of the company’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 value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin 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.