Profund Advisors LLC grew its holdings in Parker Hannifin (NYSE:PH) by 31.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,611 shares of the industrial products company’s stock after acquiring an additional 1,090 shares during the period. Profund Advisors LLC’s holdings in Parker Hannifin were worth $920,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of Parker Hannifin by 10.2% in the fourth quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock valued at $1,127,748,000 after buying an additional 522,942 shares during the last quarter. Longview Partners Guernsey LTD raised its holdings in Parker Hannifin by 0.4% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,437,440 shares of the industrial products company’s stock worth $1,085,204,000 after purchasing an additional 23,982 shares in the last quarter. Geode Capital Management LLC raised its holdings in Parker Hannifin by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,406,700 shares of the industrial products company’s stock worth $280,157,000 after purchasing an additional 32,531 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Parker Hannifin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 970,656 shares of the industrial products company’s stock worth $193,723,000 after purchasing an additional 8,357 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Parker Hannifin by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 941,019 shares of the industrial products company’s stock worth $187,809,000 after purchasing an additional 26,975 shares in the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.
NYSE:PH traded down $4.74 during mid-day trading on Friday, hitting $167.44. The stock had a trading volume of 1,392,085 shares, compared to its average volume of 1,039,176. Parker Hannifin has a 52 week low of $151.17 and a 52 week high of $212.80. The company has a market cap of $22,908.29, a PE ratio of 20.65, a P/E/G ratio of 1.48 and a beta of 1.42. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87.
Parker Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. Parker Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm earned $1.91 EPS. Parker Hannifin’s revenue was up 26.2% on a year-over-year basis. equities analysts anticipate that Parker Hannifin will post 9.98 EPS for the current year.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Parker Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research report on Thursday, January 18th. BMO Capital Markets increased their price target on shares of Parker Hannifin to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Wells Fargo reaffirmed a “hold” rating and set a $200.00 price target (down previously from $235.00) on shares of Parker Hannifin in a research note on Thursday, March 8th. Buckingham Research reaffirmed a “neutral” rating and set a $210.00 price target on shares of Parker Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Finally, Jefferies Group reaffirmed a “hold” rating and set a $200.00 price target on shares of Parker Hannifin in a research note on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. Parker Hannifin currently has a consensus rating of “Hold” and an average target price of $202.75.
In other news, Director Joseph Scaminace sold 1,149 shares of Parker Hannifin stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $184.24, for a total value of $211,691.76. Following the transaction, the director now directly owns 14,189 shares of the company’s stock, valued at $2,614,181.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Roger S. Sherrard sold 2,109 shares of Parker Hannifin stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total transaction of $384,091.08. Following the completion of the transaction, the vice president now directly owns 51,865 shares in the company, valued at $9,445,653.80. The disclosure for this sale can be found here. Insiders sold a total of 4,258 shares of company stock worth $780,753 over the last quarter. Insiders own 1.12% of the company’s stock.
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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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