Parker-Hannifin Co. (NYSE:PH) Shares Sold by GeoWealth Management LLC

GeoWealth Management LLC lowered its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,257 shares of the industrial products company's stock after selling 520 shares during the quarter. GeoWealth Management LLC's holdings in Parker-Hannifin were worth $1,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at $30,000. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the fourth quarter valued at $35,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $40,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Citigroup decreased their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus decreased their target price on Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $705.35.

Parker-Hannifin Trading Up 2.6 %

PH stock traded up $15.13 during trading on Thursday, reaching $595.94. 588,876 shares of the stock were exchanged, compared to its average volume of 844,427. The business has a 50 day moving average price of $611.61 and a 200-day moving average price of $647.11. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current 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.