Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Stock Position in Parker-Hannifin Corporation $PH

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,104 shares of the industrial products company’s stock after selling 850 shares during the period. Parker-Hannifin comprises about 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 17th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.16% of Parker-Hannifin worth $191,772,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the third quarter worth approximately $29,000. Ameriflex Group Inc. grew its stake in Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 33 shares during the period. Avion Wealth raised its holdings in Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 11 shares during the last quarter. Finally, Morse Asset Management Inc lifted its stake in shares of Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 over the last quarter. 0.32% of the stock is owned by insiders.

Parker-Hannifin Price Performance

PH stock opened at $954.08 on Thursday. The company has a market cap of $120.42 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $953.27 and a two-hundred day moving average price of $892.95. Parker-Hannifin Corporation has a 12-month low of $576.26 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period last year, the company posted $6.53 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Parker-Hannifin Corporation will post 30.99 EPS for the current year.

Analyst Upgrades and Downgrades

PH has been the topic of several analyst reports. KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Citigroup raised their price target on Parker-Hannifin from $1,092.00 to $1,137.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Robert W. Baird set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,000.60.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.