Cwm LLC Has $1.71 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Cwm LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 22.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,710 shares of the industrial products company’s stock after purchasing an additional 692 shares during the period. Cwm LLC’s holdings in Parker-Hannifin were worth $1,709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. FMR LLC lifted its position in shares of Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after acquiring an additional 324,063 shares during the period. Invesco Ltd. lifted its position in shares of Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after acquiring an additional 52,739 shares during the period. Northern Trust Corp lifted its position in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after acquiring an additional 36,744 shares during the period. Alphinity Investment Management Pty Ltd lifted its position 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 valued at $521,861,000 after acquiring an additional 336,370 shares during the period. Finally, Kestra Advisory Services LLC lifted its position in shares of Parker-Hannifin by 7.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 626,760 shares of the industrial products company’s stock valued at $244,136,000 after acquiring an additional 43,059 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PH. KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group restated a “buy” rating and set a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Truist Financial assumed coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective on the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays upped their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Performance

NYSE PH opened at $549.38 on Friday. Parker-Hannifin Co. has a 1 year low of $309.89 and a 1 year high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market cap of $70.55 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.00 and a beta of 1.52. The company has a fifty day moving average price of $542.60 and a 200-day moving average price of $476.62.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business posted $4.76 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin 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.