Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 98.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 45,124 shares of the industrial products company’s stock after acquiring an additional 22,407 shares during the quarter. Cetera Investment Advisers’ holdings in Parker-Hannifin were worth $25,079,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PH. PFG Advisors lifted its holdings in Parker-Hannifin by 6.8% during the 4th quarter. PFG Advisors now owns 553 shares of the industrial products company’s stock worth $255,000 after buying an additional 35 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Parker-Hannifin by 2.5% during the 4th quarter. DAVENPORT & Co LLC now owns 4,443 shares of the industrial products company’s stock worth $2,047,000 after buying an additional 108 shares in the last quarter. Trust Point Inc. acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $205,000. Ballentine Partners LLC lifted its holdings in Parker-Hannifin by 12.5% during the 4th quarter. Ballentine Partners LLC now owns 1,190 shares of the industrial products company’s stock worth $548,000 after buying an additional 132 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in Parker-Hannifin by 13.8% during the 4th quarter. Leavell Investment Management Inc. now owns 3,911 shares of the industrial products company’s stock worth $1,802,000 after buying an additional 474 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, 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 at this link. 1.03% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $518.51 on Friday. The company has a market cap of $66.65 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.04 and a beta of 1.44. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $570.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The company has a 50-day simple moving average of $524.99 and a 200-day simple moving average of $529.18.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PH shares. Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Barclays dropped their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Argus increased their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $584.21.

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.