UNIVEST FINANCIAL Corp bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,359 shares of the industrial products company’s stock, valued at approximately $6,220,000.
Other institutional investors have also added to or reduced their stakes in the company. Optas LLC lifted its holdings in shares of Parker-Hannifin by 3.1% in the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after buying an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in Parker-Hannifin by 1.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 11 shares in the last quarter. Inspire Advisors LLC grew its stake in Parker-Hannifin by 1.2% during the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after acquiring an additional 11 shares in the last quarter. RFG Advisory LLC increased its holdings in Parker-Hannifin by 0.3% in the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock valued at $3,348,000 after acquiring an additional 12 shares during the last quarter. Finally, Allen Capital Group LLC increased its holdings in Parker-Hannifin by 4.8% in the 1st quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 12 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Stock Performance
NYSE:PH opened at $1,055.30 on Tuesday. The firm has a market capitalization of $133.06 billion, a PE ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The stock’s fifty day moving average is $974.79 and its 200 day moving average is $946.50. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.
Analysts Set New Price Targets
Several analysts have commented on PH shares. Susquehanna boosted their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a report on Friday, August 7th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.
Read Our Latest Research Report on Parker-Hannifin
About Parker-Hannifin
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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