Parker-Hannifin Co. (NYSE:PH) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 126.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,962 shares of the industrial products company’s stock after purchasing an additional 3,327 shares during the period. Magnetar Financial LLC’s holdings in Parker-Hannifin were worth $3,314,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC increased its position in shares of Parker-Hannifin by 2.3% during the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Parker-Hannifin by 60.6% during the 1st 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. GoalVest Advisory LLC raised its holdings in Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 20 shares during the last quarter. Essex Financial Services Inc. lifted its stake in Parker-Hannifin by 4.3% in the 1st quarter. Essex Financial Services Inc. now owns 539 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 22 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its holdings in shares of Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after purchasing an additional 24 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 1.7 %

Shares of NYSE:PH traded up $9.48 during trading hours on Friday, reaching $554.61. The stock had a trading volume of 544,023 shares, compared to its average volume of 766,415. The stock has a market capitalization of $71.29 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 2.12 and a beta of 1.44. The firm’s 50 day moving average is $524.66 and its 200-day moving average is $526.32. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm earned $5.93 earnings per share. Parker-Hannifin’s quarterly revenue was up .3% on a year-over-year basis. Research analysts predict that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Truist Financial lifted their target price on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus cut their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. KeyCorp lifted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $576.27.

About Parker-Hannifin

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.