Burney Co. lessened its stake in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 28.9% in the second quarter, HoldingsChannel reports. The fund owned 33,681 shares of the industrial products company’s stock after selling 13,670 shares during the period. Parker-Hannifin makes up about 0.9% of Burney Co.’s portfolio, making the stock its 11th biggest position. Burney Co.’s holdings in Parker-Hannifin were worth $32,944,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin in the 3rd quarter worth approximately $25,000. HFM Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $31,000. NFSG Corp grew its holdings in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Stock Performance
Shares of PH stock opened at $1,069.26 on Thursday. The firm has a market capitalization of $134.82 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 2.77 and a beta of 1.12. The stock has a fifty day moving average of $964.20 and a 200 day moving average of $943.82. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. KeyCorp increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a research note on Thursday, July 16th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $1,091.38.
Read Our Latest Report on Parker-Hannifin
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.
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