Lee Johnson Capital Management LLC purchased a new position in Parker-Hannifin Corporation (NYSE:PH – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 876 shares of the industrial products company’s stock, valued at approximately $857,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Brighton Jones LLC lifted its holdings in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC grew its holdings in Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 32 shares during the period. Empowered Funds LLC grew its holdings in Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC increased its position in Parker-Hannifin by 26.2% during the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Parker-Hannifin Price Performance
Parker-Hannifin stock opened at $1,055.30 on Tuesday. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The firm has a fifty day moving average of $974.79 and a 200-day moving average of $946.50. The firm has a market capitalization of $133.06 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. Susquehanna boosted their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Finally, Citigroup upped their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.
View Our Latest Analysis on PH
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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