Stanley Laman Group Ltd. Lowers Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Stanley Laman Group Ltd. lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,174 shares of the industrial products company’s stock after selling 2,096 shares during the period. Stanley Laman Group Ltd.’s holdings in Parker-Hannifin were worth $5,148,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Syon Capital LLC boosted its stake in shares of Parker-Hannifin by 7.4% in the 4th quarter. Syon Capital LLC now owns 1,057 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 73 shares in the last quarter. Two Point Capital Management Inc. boosted its position in Parker-Hannifin by 2.0% during the fourth quarter. Two Point Capital Management Inc. now owns 17,293 shares of the industrial products company’s stock valued at $7,967,000 after buying an additional 336 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Parker-Hannifin by 7.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,227 shares of the industrial products company’s stock valued at $1,487,000 after buying an additional 228 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $548,000. Finally, Beaumont Asset Management L.L.C. lifted its stake in shares of Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after acquiring an additional 24 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the topic of several recent research reports. Stifel Nicolaus raised their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Evercore ISI increased their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Barclays boosted their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, KeyCorp upped their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE:PH traded up $3.03 during midday trading on Thursday, reaching $549.38. The company’s stock had a trading volume of 522,289 shares, compared to its average volume of 585,307. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $542.60 and a 200-day moving average of $476.62. The firm has a market capitalization of $70.55 billion, a P/E ratio of 27.20, a PEG ratio of 2.01 and a beta of 1.52. Parker-Hannifin Co. has a 12-month low of $309.89 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $4.76 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by insiders.

Parker-Hannifin 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.