Rathbones Group PLC Acquires 49,598 Shares of Parker-Hannifin Corporation $PH

Rathbones Group PLC lifted its stake in Parker-Hannifin Corporation (NYSE:PH) by 44.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,313 shares of the industrial products company’s stock after buying an additional 49,598 shares during the quarter. Rathbones Group PLC’s holdings in Parker-Hannifin were worth $145,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. Brighton Jones LLC boosted its holdings in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 101 shares during the period. Bison Wealth LLC raised its holdings in Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after buying an additional 32 shares during the period. Empowered Funds LLC lifted its position in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 15 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after buying an additional 166 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.2%

Shares of NYSE PH opened at $978.14 on Monday. Parker-Hannifin Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96. The firm has a market cap of $123.33 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The business has a fifty day simple moving average of $933.72 and a two-hundred day simple moving average of $938.15. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping the consensus estimate of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.94 EPS. Analysts expect that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PH shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,037.00 price target on shares of Parker-Hannifin in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. decreased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Stifel Nicolaus boosted their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a “hold” rating in a research report on Friday, April 10th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,027.38.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.