Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.0% in the first quarter, HoldingsChannel reports. The firm owned 72,721 shares of the industrial products company’s stock after selling 32 shares during the period. Tocqueville Asset Management L.P.’s holdings in Parker-Hannifin were worth $44,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Brighton Jones LLC raised its position in shares of Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Parker-Hannifin by 0.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company’s stock worth $4,617,000 after acquiring an additional 55 shares during the period. CreativeOne Wealth LLC raised its position in shares of Parker-Hannifin by 15.8% in the fourth quarter. CreativeOne Wealth LLC now owns 1,117 shares of the industrial products company’s stock worth $711,000 after acquiring an additional 152 shares during the period. XTX Topco Ltd raised its position in shares of Parker-Hannifin by 181.6% in the fourth quarter. XTX Topco Ltd now owns 1,039 shares of the industrial products company’s stock worth $661,000 after acquiring an additional 670 shares during the period. Finally, Jump Financial LLC raised its position in shares of Parker-Hannifin by 587.4% in the fourth quarter. Jump Financial LLC now owns 3,011 shares of the industrial products company’s stock worth $1,915,000 after acquiring an additional 2,573 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 2.1%

Shares of NYSE PH opened at $729.68 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $763.99. The stock has a market cap of $93.24 billion, a PE ratio of 26.91, a P/E/G ratio of 3.09 and a beta of 1.37. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $705.53 and a 200 day moving average of $658.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Angela R. Ives sold 810 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $727.36, for a total value of $589,161.60. Following the completion of the sale, the vice president owned 2,798 shares of the company’s stock, valued at $2,035,153.28. This represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the completion of the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $733,060. This trade represents a 36.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,414 shares of company stock worth $6,883,931. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PH. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a “hold” rating in a research report on Friday, August 8th. Barclays upped their price objective on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Morgan Stanley upped their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $768.71.

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.