Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Quantinno Capital Management LP

Posted by Defense World Staff on Jul 30th, 2023

Parker-Hannifin logo Quantinno Capital Management LP increased its position in Parker-Hannifin Co. (NYSE:PH – Free Report) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,464 shares of the industrial products company’s stock after buying an additional 157 shares during the period. Quantinno Capital Management LP’s holdings in Parker-Hannifin were worth $828,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Arlington Partners LLC acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $29,000. BDO Wealth Advisors LLC increased its position in Parker-Hannifin by 32.7% during the fourth quarter. BDO Wealth Advisors LLC now owns 134 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 33 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Parker-Hannifin during the fourth quarter worth approximately $41,000. Money Concepts Capital Corp increased its position in Parker-Hannifin by 186.3% during the fourth quarter. Money Concepts Capital Corp now owns 146 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 95 shares during the last quarter. Finally, Pinnacle Bancorp Inc. increased its position in Parker-Hannifin by 92.3% during the first quarter. Pinnacle Bancorp Inc. now owns 150 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 81.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Parker-Hannifin from $395.00 to $435.00 in a research report on Friday, July 14th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $411.00 to $415.00 in a research note on Friday, May 5th. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $413.00 to $440.00 in a research note on Tuesday, May 9th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $390.00 to $450.00 in a research note on Thursday, July 13th. Finally, Mizuho boosted their price objective on shares of Parker-Hannifin from $335.00 to $415.00 in a research note on Friday, July 7th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $418.85.

Insider Activity at Parker-Hannifin

In related news, VP William R. Bowman sold 2,403 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $357.65, for a total value of $859,432.95. Following the sale, the vice president now directly owns 11,152 shares of the company’s stock, valued at $3,988,512.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP William R. Bowman sold 2,403 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $357.65, for a total value of $859,432.95. Following the sale, the vice president now directly owns 11,152 shares of the company’s stock, valued at $3,988,512.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Lee C. Banks sold 29,764 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $333.84, for a total transaction of $9,936,413.76. Following the sale, the insider now directly owns 110,476 shares in the company, valued at $36,881,307.84. The disclosure for this sale can be found here. Insiders have sold 34,526 shares of company stock valued at $11,618,868 over the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $399.57 on Friday. The company has a market capitalization of $51.31 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.53. The firm has a fifty day simple moving average of $371.43 and a 200-day simple moving average of $344.73. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.17. Parker-Hannifin Co. has a twelve month low of $235.69 and a twelve month high of $409.62.

Parker-Hannifin (NYSE:PH – Get Free Report) last announced its earnings results on Thursday, May 4th. The industrial products company reported $5.93 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.92. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.79 billion. Parker-Hannifin had a net margin of 8.28% and a return on equity of 29.14%. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.83 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 20.91 earnings per share for the current fiscal year.

Parker-Hannifin Profile

(Free Report)

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 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.