Parker-Hannifin Corporation (NYSE:PH) Position Boosted by AlphaCore Capital LLC
AlphaCore Capital LLC increased its stake in Parker-Hannifin Corporation (NYSE:PH) by 82.2% in Q1, owning 3,388 shares valued at $2,059,000. Other institutional investors also adjusted their positions, with 82.44% of the stock held by institutions. Analysts have raised target prices for Parker-Hannifin, with an average target of $739.59. The stock opened at $725.80, with a market cap of $92.74 billion and reported $7.69 EPS, exceeding estimates. Parker-Hannifin manufactures motion and control technologies across various markets.
AlphaCore Capital LLC lifted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 82.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,388 shares of the industrial products company's stock after purchasing an additional 1,528 shares during the quarter. AlphaCore Capital LLC's holdings in Parker-Hannifin were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other institutional investors have also made changes to their positions in PH. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin during the first quarter valued at approximately $35,000. Chilton Capital Management LLC raised its position in Parker-Hannifin by 1,500.0% during the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 60 shares in the last quarter. Finally, Accent Capital Management LLC bought a new stake in Parker-Hannifin in the first quarter worth approximately $41,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
PH has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Argus set a $680.00 target price on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Citigroup reiterated a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Barclays upped their target price on shares of Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Stifel Nicolaus raised their target price on Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $739.59.
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View Our Latest Research Report on Parker-Hannifin
Parker-Hannifin Trading Up 4.1%
PH opened at $725.80 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $745.34. The stock has a market capitalization of $92.74 billion, a PE ratio of 27.95, a PEG ratio of 2.98 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $696.32 and a two-hundred day moving average price of $656.13.
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Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the company posted $6.77 EPS. Parker-Hannifin's revenue was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.
Parker-Hannifin Profile
(Free Report)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.
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