Summit Trail Advisors LLC boosted its stake in Parker-Hannifin Corp (NYSE:PH) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,066 shares of the industrial products company’s stock after acquiring an additional 345 shares during the period. Summit Trail Advisors LLC’s holdings in Parker-Hannifin were worth $220,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Marble Harbor Investment Counsel LLC lifted its stake in Parker-Hannifin by 2.7% in the first quarter. Marble Harbor Investment Counsel LLC now owns 12,005 shares of the industrial products company’s stock valued at $2,053,000 after buying an additional 312 shares during the period. Cambria Investment Management L.P. lifted its stake in Parker-Hannifin by 2.7% in the first quarter. Cambria Investment Management L.P. now owns 12,298 shares of the industrial products company’s stock valued at $2,103,000 after buying an additional 320 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in Parker-Hannifin by 28.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 1,452 shares of the industrial products company’s stock valued at $248,000 after buying an additional 325 shares during the period. IFM Investors Pty Ltd lifted its stake in Parker-Hannifin by 10.3% in the first quarter. IFM Investors Pty Ltd now owns 4,240 shares of the industrial products company’s stock valued at $725,000 after buying an additional 397 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Parker-Hannifin by 2.0% in the first quarter. Oppenheimer & Co. Inc. now owns 21,326 shares of the industrial products company’s stock valued at $3,647,000 after buying an additional 408 shares during the period. Institutional investors and hedge funds own 79.93% of the company’s stock.
Several equities analysts have issued reports on PH shares. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Wells Fargo & Co reissued a “market perform” rating on shares of Parker-Hannifin in a research note on Thursday, June 28th. Stifel Nicolaus reissued a “buy” rating and issued a $200.00 price target (down from $232.00) on shares of Parker-Hannifin in a research note on Monday, April 9th. JPMorgan Chase & Co. dropped their price target on Parker-Hannifin from $210.00 to $199.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 10th. Finally, Citigroup dropped their price target on Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, April 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $200.07.
In related news, VP Kurt A. Keller sold 7,005 shares of the stock in a transaction on Monday, May 21st. The stock was sold at an average price of $182.04, for a total value of $1,275,190.20. Following the completion of the sale, the vice president now directly owns 31,834 shares of the company’s stock, valued at approximately $5,795,061.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas C. Gentile sold 570 shares of the stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $176.73, for a total value of $100,736.10. The disclosure for this sale can be found here. Insiders sold a total of 14,578 shares of company stock valued at $2,564,440 over the last three months. 1.12% of the stock is currently owned by insiders.
Shares of Parker-Hannifin opened at $156.82 on Friday, Marketbeat reports. The company has a current ratio of 1.59, a quick ratio of 1.09 and a debt-to-equity ratio of 0.82. Parker-Hannifin Corp has a twelve month low of $152.47 and a twelve month high of $212.80. The company has a market cap of $20.85 billion, a PE ratio of 19.36, a PEG ratio of 1.38 and a beta of 1.41.
Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 26th. The industrial products company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Parker-Hannifin had a return on equity of 23.63% and a net margin of 7.16%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the firm earned $2.11 earnings per share. Parker-Hannifin’s revenue for the quarter was up 20.2% on a year-over-year basis. equities analysts predict that Parker-Hannifin Corp will post 10.08 EPS for the current fiscal year.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corp (NYSE:PH).
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.