Global Retirement Partners LLC Purchases 450 Shares of Parker-Hannifin Co. (NYSE:PH)

Posted by on Aug 11th, 2023

Global Retirement Partners LLC increased its position in Parker-Hannifin Co. (NYSE:PH – Free Report) by 445.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 551 shares of the industrial products company’s stock after acquiring an additional 450 shares during the quarter. Global Retirement Partners LLC’s holdings in Parker-Hannifin were worth $178,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Parker-Hannifin in the 4th quarter worth $519,286,000. Kestra Advisory Services LLC grew its position in Parker-Hannifin by 10,560.6% in the 4th quarter. Kestra Advisory Services LLC now owns 606,271 shares of the industrial products company’s stock worth $176,425,000 after purchasing an additional 600,584 shares during the last quarter. Baird Financial Group Inc. grew its position in Parker-Hannifin by 1,273.0% in the 4th quarter. Baird Financial Group Inc. now owns 524,354 shares of the industrial products company’s stock worth $152,587,000 after purchasing an additional 486,163 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Parker-Hannifin by 35.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,171,447 shares of the industrial products company’s stock worth $340,891,000 after purchasing an additional 308,339 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Parker-Hannifin by 61.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 676,123 shares of the industrial products company’s stock valued at $166,360,000 after acquiring an additional 257,251 shares in the last quarter. Institutional investors own 81.62% of the company’s stock.

Insider Buying and Selling

In related news, VP William R. Bowman sold 2,403 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $357.65, for a total transaction of $859,432.95. Following the completion of 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 legal filing with the SEC, which is available at this link. In other Parker-Hannifin news, EVP Mark J. Hart sold 3,906 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $417.60, for a total value of $1,631,145.60. Following the completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $2,949,508.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William R. Bowman sold 2,403 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $357.65, for a total transaction of $859,432.95. Following the completion of the sale, the vice president now directly owns 11,152 shares of the company’s stock, valued at approximately $3,988,512.80. The disclosure for this sale can be found here. Insiders sold a total of 10,418 shares of company stock valued at $4,104,307 over the last ninety days. Insiders own 1.37% of the company’s stock.

Parker-Hannifin Trading Down 2.2 %

Shares of NYSE PH opened at $412.76 on Friday. Parker-Hannifin Co. has a 1-year low of $235.69 and a 1-year high of $428.16. The company has a market cap of $53.00 billion, a PE ratio of 25.80, a P/E/G ratio of 1.59 and a beta of 1.52. The company has a current ratio of 0.88, a quick ratio of 0.51 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $385.55 and a two-hundred day moving average of $350.66.

Parker-Hannifin (NYSE:PH – Get Free Report) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $0.60. Parker-Hannifin had a net margin of 10.93% and a return on equity of 29.26%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The company’s revenue was up 21.7% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin Co. will post 22.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Parker-Hannifin from $370.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, July 18th. Mizuho lifted their target price on shares of Parker-Hannifin from $335.00 to $415.00 in a research report on Friday, July 7th. Argus lifted their target price on shares of Parker-Hannifin from $390.00 to $460.00 in a research report on Friday, August 4th. BMO Capital Markets boosted their price target on shares of Parker-Hannifin from $390.00 to $405.00 in a research report on Tuesday, May 9th. Finally, Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $383.00 to $446.00 in a research report on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $434.57.

Check Out Our Latest Stock Report on PH

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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