Korea Investment CORP Raises Position in Parker-Hannifin Corporation $PH

Korea Investment CORP lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,449 shares of the industrial products company’s stock after purchasing an additional 14,151 shares during the period. Korea Investment CORP owned 0.09% of Parker-Hannifin worth $69,568,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC purchased a new position in Parker-Hannifin in the 1st quarter valued at approximately $35,000. Chilton Capital Management LLC grew its stake in Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company’s stock valued at $39,000 after buying an additional 60 shares in the last quarter. Accent Capital Management LLC purchased a new position in Parker-Hannifin in the 1st quarter valued at approximately $41,000. Finally, Sierra Ocean LLC grew its stake in Parker-Hannifin by 89.5% in the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company’s stock valued at $44,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the sale, the vice president directly owned 5,465 shares of the company’s stock, valued at $3,986,717.50. The trade was a 17.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Angela R. Ives sold 810 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the completion of the transaction, the vice president owned 2,798 shares in the company, valued at $2,035,153.28. The trade was a 22.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,414 shares of company stock valued at $6,883,931 over the last three months. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 16th. Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Citigroup reissued a “buy” rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Evercore ISI raised their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $768.71.

Parker-Hannifin Stock Performance

NYSE PH opened at $736.63 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The company has a market capitalization of $94.12 billion, a P/E ratio of 27.16, a P/E/G ratio of 3.03 and a beta of 1.37. The company has a fifty day moving average of $706.86 and a 200-day moving average of $658.80. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $763.99.

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, topping the consensus estimate of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

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.