LRI Investments LLC Takes $462,000 Position in Parker-Hannifin Co. (NYSE:PH)

LRI Investments LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 839 shares of the industrial products company’s stock, valued at approximately $462,000.

Other large investors have also modified their holdings of the company. Sachetta LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $26,000. First United Bank & Trust acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $29,000. Harbor Investment Advisory LLC boosted its position in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin during the fourth quarter worth approximately $30,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Barclays cut their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Wells Fargo & Company cut their price target on shares of Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Bank of America increased their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $576.27.

Parker-Hannifin Stock Up 1.7 %

PH stock traded up $9.48 during mid-day trading on Friday, hitting $554.61. 544,023 shares of the company were exchanged, compared to its average volume of 766,415. The company has a market capitalization of $71.29 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 2.09 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $570.15. The firm has a fifty day simple moving average of $524.66 and a 200 day simple moving average of $526.32.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the business earned $5.93 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts forecast that Parker-Hannifin Co. will post 24.85 earnings per share for the current fiscal year.

About Parker-Hannifin

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.