Squar Milner Financial Services LLC increased its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 26.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 457 shares of the industrial products company’s stock after acquiring an additional 96 shares during the period. Squar Milner Financial Services LLC’s holdings in Parker-Hannifin were worth $94,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of PH. Private Capital Group LLC increased its holdings in shares of Parker-Hannifin by 126.3% during the 2nd quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 96 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $32,000. Hoey Investments Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $36,000. CWM LLC grew its holdings in Parker-Hannifin by 34.4% in the 3rd quarter. CWM LLC now owns 293 shares of the industrial products company’s stock valued at $53,000 after buying an additional 75 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. acquired a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $54,000. 80.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of PH stock opened at $198.74 on Thursday. The stock has a 50 day moving average of $205.72 and a two-hundred day moving average of $185.03. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 1.21. Parker-Hannifin Corp has a 12 month low of $152.18 and a 12 month high of $212.05. The company has a market capitalization of $25.96 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.05 and a beta of 1.57.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.76 EPS for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.12. Parker-Hannifin had a return on equity of 25.74% and a net margin of 10.41%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $2.84 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Sell-side analysts predict that Parker-Hannifin Corp will post 10.77 earnings per share for the current fiscal year.
A number of research firms have issued reports on PH. Gordon Haskett raised Parker-Hannifin from an “underperform” rating to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Co raised Parker-Hannifin from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $205.00 to $230.00 in a report on Monday, December 16th. Deutsche Bank raised their target price on Parker-Hannifin from $215.00 to $227.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Goldman Sachs Group raised Parker-Hannifin from a “sell” rating to a “buy” rating and raised their target price for the company from $180.00 to $230.00 in a report on Tuesday, December 10th. Finally, Morgan Stanley raised their target price on Parker-Hannifin from $193.00 to $209.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $203.46.
In other Parker-Hannifin news, VP Andrew M. Weeks sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.38, for a total value of $751,425.00. Also, CFO Catherine A. Suever sold 775 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $200.52, for a total value of $155,403.00. The disclosure for this sale can be found here. Insiders sold a total of 11,427 shares of company stock valued at $2,263,771 in the last quarter. Corporate insiders own 1.23% of the company’s stock.
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 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.
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