Parker-Hannifin Co. (NYSE:PH) Shares Bought by Commonwealth Equity Services LLC

Posted by MarketBeat News on Aug 4th, 2022

Parker-Hannifin logo Commonwealth Equity Services LLC raised its stake in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,700 shares of the industrial products company’s stock after acquiring an additional 172 shares during the period. Commonwealth Equity Services LLC’s holdings in Parker-Hannifin were worth $5,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Mystic Asset Management Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at $36,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth about $35,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth about $35,000. Benjamin Edwards Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $42,000. Finally, Missouri Trust & Investment Co acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, Director James L. Wainscott acquired 1,000 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $273.44 per share, with a total value of $273,440.00. Following the purchase, the director now directly owns 18,280 shares in the company, valued at approximately $4,998,483.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Parker-Hannifin news, Director James L. Wainscott acquired 1,000 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $273.44 per share, with a total value of $273,440.00. Following the purchase, the director now directly owns 18,280 shares in the company, valued at approximately $4,998,483.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James L. Wainscott bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average price of $267.78 per share, for a total transaction of $535,560.00. Following the transaction, the director now owns 17,280 shares of the company’s stock, valued at approximately $4,627,238.40. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PH. Wells Fargo & Company decreased their target price on shares of Parker-Hannifin from $301.00 to $289.00 in a research note on Tuesday, July 12th. Stifel Nicolaus decreased their target price on shares of Parker-Hannifin from $343.00 to $283.00 in a research note on Monday, July 18th. Mizuho decreased their target price on shares of Parker-Hannifin from $290.00 to $245.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. KeyCorp cut their price target on shares of Parker-Hannifin from $385.00 to $335.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Parker-Hannifin from $336.00 to $274.00 and set a “hold” rating for the company in a report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.00.

Parker-Hannifin Trading Up 1.6 %

Shares of Parker-Hannifin stock opened at $290.06 on Thursday. Parker-Hannifin Co. has a 12-month low of $230.44 and a 12-month high of $340.00. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. The stock has a market cap of $37.24 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57. The company has a 50-day moving average of $260.58 and a two-hundred day moving average of $278.08.

Parker-Hannifin (NYSE:PH – Get Rating) last issued its earnings results on Thursday, May 5th. The industrial products company reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.22. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period last year, the company posted $4.11 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 18.23 EPS for the current fiscal year.

Parker-Hannifin Profile

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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 Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.