Parker-Hannifin Co. (NYSE:PH) Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 42.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,578 shares of the industrial products company’s stock after selling 1,903 shares during the quarter. Jackson Wealth Management LLC’s holdings in Parker-Hannifin were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. PFG Advisors boosted its position in shares of Parker-Hannifin by 6.8% during the 4th quarter. PFG Advisors now owns 553 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 35 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Parker-Hannifin by 2.5% in the 4th quarter. DAVENPORT & Co LLC now owns 4,443 shares of the industrial products company’s stock valued at $2,047,000 after purchasing an additional 108 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $205,000. Ballentine Partners LLC lifted its holdings in shares of Parker-Hannifin by 12.5% in the 4th quarter. Ballentine Partners LLC now owns 1,190 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 132 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of Parker-Hannifin by 13.8% in the 4th quarter. Leavell Investment Management Inc. now owns 3,911 shares of the industrial products company’s stock valued at $1,802,000 after purchasing an additional 474 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other 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 transaction of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH traded down $16.03 during trading hours on Friday, reaching $518.51. 700,329 shares of the company traded hands, compared to its average volume of 693,356. The firm’s 50-day moving average is $524.99 and its 200-day moving average is $529.18. The stock has a market cap of $66.65 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.04 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-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, beating analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.93 EPS. Equities research analysts expect that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America boosted their target price on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus reduced their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Raymond James started coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 price objective for the company. Barclays reduced their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Finally, Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their price objective for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $584.21.

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.