Glenmede Trust Co. NA Has $108.10 Million Holdings in Parker-Hannifin Corporation $PH

Glenmede Trust Co. NA decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,753 shares of the industrial products company’s stock after selling 1,757 shares during the quarter. Glenmede Trust Co. NA’s holdings in Parker-Hannifin were worth $108,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fideuram Asset Management Ireland dac acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,253,000. Truist Financial Corp raised its position in shares of Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after acquiring an additional 4,673 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $3,800,000. BCS Wealth Management lifted its stake in shares of Parker-Hannifin by 83.3% in the fourth quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock worth $2,742,000 after acquiring an additional 1,418 shares during the period. Finally, Shepherd Street Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $1,736,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating and set a $1,037.00 target price on shares of Parker-Hannifin in a research report on Thursday, July 16th. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Stock Performance

NYSE:PH opened at $978.14 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a twelve month low of $692.02 and a twelve month high of $1,034.96. The company has a fifty day moving average of $933.72 and a 200-day moving average of $938.08. The firm has a market capitalization of $123.33 billion, a P/E ratio of 36.08, a P/E/G ratio of 2.57 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. Parker-Hannifin’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.94 earnings per share. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.