Parker-Hannifin Co. (NYSE:PH) Position Trimmed by Trust Co. of Vermont

Trust Co. of Vermont cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,493 shares of the industrial products company’s stock after selling 50 shares during the period. Trust Co. of Vermont’s holdings in Parker-Hannifin were worth $755,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PH. Vanguard Group Inc. boosted its stake in 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 valued at $5,872,694,000 after purchasing an additional 105,475 shares during the period. Norges Bank bought a new stake in Parker-Hannifin in the fourth quarter valued at $665,188,000. Alphinity Investment Management Pty Ltd raised its stake in Parker-Hannifin by 42.2% during the fourth 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 in the last quarter. Boston Partners lifted its holdings in shares of Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Parker-Hannifin by 3.7% in the 4th quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after purchasing an additional 25,060 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 2.2 %

Shares of Parker-Hannifin stock traded up $11.33 on Tuesday, reaching $517.64. 638,868 shares of the company were exchanged, compared to its average volume of 661,117. The company has a 50-day moving average of $524.52 and a 200 day moving average of $529.98. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $570.15. The company has a market capitalization of $66.54 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.04 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PH shares. Argus lifted their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Raymond James assumed coverage on Parker-Hannifin in a report on Friday, June 28th. They issued an “outperform” rating and a $610.00 target price on the stock. Wells Fargo & Company dropped their price target on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Finally, Stifel Nicolaus lowered their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.