Front Street Capital Management Inc. Has $5.75 Million Position in Parker-Hannifin Corporation $PH

Front Street Capital Management Inc. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,417 shares of the industrial products company’s stock after selling 640 shares during the period. Parker-Hannifin comprises 0.7% of Front Street Capital Management Inc.’s portfolio, making the stock its 29th largest holding. Front Street Capital Management Inc.’s holdings in Parker-Hannifin were worth $5,745,000 as of its most recent filing with the SEC.

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

Parker-Hannifin Trading Up 1.4%

Shares of NYSE PH opened at $964.01 on Friday. The company’s 50 day simple moving average is $931.48 and its 200 day simple moving average is $937.80. Parker-Hannifin Corporation has a fifty-two week low of $692.02 and a fifty-two week high of $1,034.96. The firm has a market capitalization of $121.55 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the firm earned $6.94 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PH shares. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Evercore set a $1,064.00 target price on Parker-Hannifin in a research report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,027.38.

Parker-Hannifin 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.