GSA Capital Partners LLP purchased a new stake in Parker-Hannifin Corporation (NYSE:PH – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 790 shares of the industrial products company’s stock, valued at approximately $773,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fideuram Asset Management Ireland dac purchased a new position in Parker-Hannifin in the fourth quarter worth approximately $1,253,000. Truist Financial Corp grew its holdings in Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after acquiring an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $1,736,000. Jefferies Financial Group Inc. acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $11,434,000. Finally, Horizon Investments LLC raised its holdings in shares of Parker-Hannifin by 78.8% in the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 3,892 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Parker-Hannifin Stock Performance
Shares of Parker-Hannifin stock opened at $1,022.30 on Thursday. The firm’s fifty day simple moving average is $980.41 and its 200-day simple moving average is $947.90. The stock has a market capitalization of $128.90 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 2.71 and a beta of 1.12. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.
Analyst Ratings Changes
A number of equities analysts recently commented on PH shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Finally, Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $1,100.00.
Check Out Our Latest Stock Analysis on PH
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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