Aviso Financial Inc. Boosts Stock Position in Parker-Hannifin Corporation $PH

by · The Markets Daily

Aviso Financial Inc. grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,669 shares of the industrial products company’s stock after buying an additional 204 shares during the period. Aviso Financial Inc.’s holdings in Parker-Hannifin were worth $1,015,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in Parker-Hannifin by 27.2% in the 1st quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company’s stock worth $18,850,000 after purchasing an additional 6,630 shares in the last quarter. Alley Investment Management Company LLC purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $7,996,000. Community Financial Services Group LLC increased its stake in Parker-Hannifin by 1,338.2% in the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company’s stock worth $4,030,000 after acquiring an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co bought a new stake in Parker-Hannifin in the 1st quarter worth approximately $260,000. Finally, Banco Santander S.A. increased its stake in Parker-Hannifin by 70.2% in the 1st quarter. Banco Santander S.A. now owns 35,645 shares of the industrial products company’s stock worth $21,667,000 after acquiring an additional 14,705 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $736.63 on Tuesday. The stock’s fifty day moving average is $706.86 and its two-hundred day moving average is $658.80. The company has a market capitalization of $94.12 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $763.99.

Parker-Hannifin (NYSE:PH – Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating the consensus estimate of $7.08 by $0.61. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. Parker-Hannifin’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PH. Morgan Stanley lifted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. KeyCorp lifted their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Susquehanna began coverage on Parker-Hannifin in a research note on Friday. They issued a “positive” rating and a $860.00 price objective on the stock. Evercore ISI lifted their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Finally, Barclays lifted their price objective on Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $768.71.

Check Out Our Latest Stock Analysis on Parker-Hannifin

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Angela R. Ives sold 810 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the sale, the vice president owned 2,798 shares of the company’s stock, valued at $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,414 shares of company stock worth $6,883,931 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

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 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.

See Also

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