American Trust Acquires 20 Shares of Parker-Hannifin Co. (NYSE:PH)

American Trust raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 649 shares of the industrial products company’s stock after purchasing an additional 20 shares during the period. American Trust’s holdings in Parker-Hannifin were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Vanguard Group Inc. grew its holdings in shares of Parker-Hannifin by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after acquiring an additional 105,475 shares during the period. Norges Bank purchased a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $665,188,000. Alphinity Investment Management Pty Ltd grew its holdings in shares of Parker-Hannifin by 42.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after acquiring an additional 336,370 shares during the period. Boston Partners grew its holdings in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after acquiring an additional 43,535 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Parker-Hannifin by 3.7% during the 4th quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock worth $320,173,000 after acquiring an additional 25,060 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded down $16.03 during midday trading on Friday, hitting $518.51. 700,329 shares of the stock traded hands, compared to its average volume of 693,356. The firm has a 50-day moving average of $524.99 and a two-hundred day moving average of $529.18. The firm has a market capitalization of $66.65 billion, a P/E ratio of 24.43, a PEG ratio of 2.04 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm earned $5.93 EPS. Parker-Hannifin’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PH. Raymond James began coverage on Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 price target on the stock. Argus upped their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. KeyCorp increased their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Truist Financial increased their target price on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.21.

Insider Buying and Selling

In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.03% of the stock is owned by insiders.

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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.