Korea Investment CORP Grows Stock Holdings in Parker-Hannifin Corporation $PH

Korea Investment CORP raised its position in Parker-Hannifin Corporation (NYSE:PH) by 14.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,449 shares of the industrial products company’s stock after acquiring an additional 14,151 shares during the quarter. Korea Investment CORP’s holdings in Parker-Hannifin were worth $69,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Manhattan CO. LLC. increased its position in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock valued at $1,005,000 after buying an additional 15 shares during the period. Cascade Financial Partners LLC increased its position in shares of Parker-Hannifin by 3.1% during the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company’s stock valued at $303,000 after buying an additional 15 shares during the period. Becker Capital Management Inc. increased its position in shares of Parker-Hannifin by 3.4% during the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company’s stock valued at $307,000 after buying an additional 16 shares during the period. Nicolet Advisory Services LLC increased its position in shares of Parker-Hannifin by 3.5% during the first quarter. Nicolet Advisory Services LLC now owns 468 shares of the industrial products company’s stock valued at $262,000 after buying an additional 16 shares during the period. Finally, E Fund Management Co. Ltd. increased its position in shares of Parker-Hannifin by 5.0% during the first quarter. E Fund Management Co. Ltd. now owns 336 shares of the industrial products company’s stock valued at $204,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the sale, the vice president directly owned 2,798 shares of the company’s stock, valued at approximately $2,035,153.28. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 575 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $733,060. This represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,414 shares of company stock valued at $6,883,931 over the last quarter. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a “hold” rating in a research report on Friday, August 8th. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 16th. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $768.71.

Parker-Hannifin Stock Up 0.9%

Shares of Parker-Hannifin stock opened at $736.63 on Tuesday. The company has a market cap of $94.12 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The company’s 50 day moving average is $706.86 and its 200 day moving average is $658.80. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $763.99. 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 (NYSE:PH) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 17.79% and a return on equity of 26.80%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 earnings per share. Research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

About Parker-Hannifin

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.