Parker-Hannifin Co. (NYSE:PH) Holdings Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,270 shares of the industrial products company’s stock after acquiring an additional 11,510 shares during the period. Canada Pension Plan Investment Board owned 0.05% of Parker-Hannifin worth $38,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PH. Mutual Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $206,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Parker-Hannifin by 2.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,509 shares of the industrial products company’s stock worth $24,191,000 after acquiring an additional 1,137 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Parker-Hannifin by 32.8% in the 4th quarter. Pacer Advisors Inc. now owns 11,081 shares of the industrial products company’s stock worth $5,105,000 after acquiring an additional 2,734 shares during the period. Schechter Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 12.4% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,258 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 139 shares during the period. Finally, Courier Capital LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $202,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Up 1.7 %

Shares of Parker-Hannifin stock opened at $554.61 on Friday. The stock has a market capitalization of $71.29 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $524.66 and a 200 day simple moving average of $526.32. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15.

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

Wall Street Analysts Forecast Growth

PH has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Argus increased their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Barclays cut their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Raymond James initiated coverage on shares of Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Finally, Bank of America increased their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $576.27.

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.