Pennsylvania Trust Co grew its position in Parker-Hannifin Corp (NYSE:PH) by 29,994.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,625,103 shares of the industrial products company’s stock after buying an additional 1,619,703 shares during the quarter. Parker-Hannifin accounts for 3.6% of Pennsylvania Trust Co’s holdings, making the stock its largest holding. Pennsylvania Trust Co’s holdings in Parker-Hannifin were worth $117,980,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Paradigm Asset Management Co. LLC lifted its stake in Parker-Hannifin by 7.4% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 3,650 shares of the industrial products company’s stock valued at $671,000 after buying an additional 250 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Parker-Hannifin by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 233,970 shares of the industrial products company’s stock worth $43,034,000 after purchasing an additional 4,165 shares during the period. Legal & General Group Plc lifted its stake in shares of Parker-Hannifin by 6.3% during the 4th quarter. Legal & General Group Plc now owns 653,420 shares of the industrial products company’s stock worth $97,451,000 after purchasing an additional 38,840 shares during the period. Fruth Investment Management lifted its stake in shares of Parker-Hannifin by 83.7% during the 4th quarter. Fruth Investment Management now owns 7,900 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 3,600 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Parker-Hannifin by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,942,573 shares of the industrial products company’s stock worth $541,228,000 after buying an additional 258,502 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.
NYSE PH traded up $0.04 during trading hours on Tuesday, hitting $187.90. The company had a trading volume of 263,008 shares, compared to its average volume of 861,140. Parker-Hannifin Corp has a fifty-two week low of $140.82 and a fifty-two week high of $193.19. The company has a market cap of $24.30 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.77 and a beta of 1.46. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.74.
PH has been the topic of several research reports. Robert W. Baird set a $180.00 target price on Parker-Hannifin and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Barclays cut their target price on Parker-Hannifin from $186.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, December 17th. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and cut their target price for the stock from $181.00 to $171.00 in a research report on Friday, February 1st. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Finally, Morgan Stanley set a $172.00 target price on Parker-Hannifin and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $182.00.
In other news, VP Andrew M. Weeks sold 4,520 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $176.70, for a total transaction of $798,684.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Candy M. Obourn sold 926 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $162.18, for a total value of $150,178.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,445 shares of company stock valued at $1,814,218. 1.12% of the stock is owned by insiders.
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Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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