Groupe la Francaise Boosts Stock Position in Parker-Hannifin Corporation $PH

Groupe la Francaise increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 136.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,341 shares of the industrial products company’s stock after buying an additional 23,891 shares during the quarter. Groupe la Francaise’s holdings in Parker-Hannifin were worth $36,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after acquiring an additional 33,606 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after acquiring an additional 22,305 shares during the last quarter. Capital World Investors grew its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the period. Morgan Stanley grew its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares during the period. Finally, Norges Bank acquired a new stake in Parker-Hannifin during the fourth quarter worth about $1,756,230,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.4%

NYSE PH opened at $964.01 on Friday. The firm’s 50-day moving average is $931.48 and its two-hundred day moving average is $937.80. Parker-Hannifin Corporation has a 12 month low of $692.02 and a 12 month high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The stock has a market capitalization of $121.55 billion, a P/E ratio of 35.56, a PEG ratio of 2.54 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business earned $6.94 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research note on Monday, May 11th. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,037.00 price target on shares of Parker-Hannifin in a research note on Thursday, July 16th. JPMorgan Chase & Co. cut their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Finally, Truist Financial upped their price objective on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,027.38.

Parker-Hannifin Company 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.