Guardian Capital LP Acquires Shares of 762 Parker-Hannifin Co. (NYSE:PH)

Guardian Capital LP purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 762 shares of the industrial products company’s stock, valued at approximately $424,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC increased its holdings in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC bought a new stake in Parker-Hannifin in the 4th quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the 1st quarter worth about $31,000. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin in the 4th quarter worth about $26,000. Finally, First United Bank & Trust bought a new stake in Parker-Hannifin in the 4th quarter worth about $29,000. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. Bank of America lifted their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Barclays reduced their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Wells Fargo & Company dropped their target price on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Argus raised their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Stifel Nicolaus dropped their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $576.27.

Parker-Hannifin Price Performance

NYSE PH traded up $9.48 during trading hours on Friday, reaching $554.61. The company’s stock had a trading volume of 544,023 shares, compared to its average volume of 766,415. The firm’s 50-day moving average price is $524.66 and its 200-day moving average price is $525.84. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. The company has a market capitalization of $71.29 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 2.09 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.93 EPS. On average, equities research analysts predict that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.