Wealth High Governance Asset Management Ltda. Has $15.99 Million Stock Holdings in Parker-Hannifin Corporation $PH

Wealth High Governance Asset Management Ltda. raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 131.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,864 shares of the industrial products company’s stock after purchasing an additional 10,146 shares during the period. Parker-Hannifin accounts for approximately 5.6% of Wealth High Governance Asset Management Ltda.’s holdings, making the stock its 3rd biggest holding. Wealth High Governance Asset Management Ltda.’s holdings in Parker-Hannifin were worth $15,993,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Carmignac Gestion bought a new position in Parker-Hannifin in the first quarter valued at approximately $31,721,000. Rathbones Group PLC grew its stake in shares of Parker-Hannifin by 44.0% during the first quarter. Rathbones Group PLC now owns 162,313 shares of the industrial products company’s stock worth $145,309,000 after purchasing an additional 49,598 shares during the period. Evansbrook LLC grew its stake in shares of Parker-Hannifin by 4.2% during the first quarter. Evansbrook LLC now owns 1,454 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 59 shares during the period. Parallel Advisors LLC increased its holdings in Parker-Hannifin by 3.2% in the first quarter. Parallel Advisors LLC now owns 8,320 shares of the industrial products company’s stock valued at $7,449,000 after purchasing an additional 255 shares during the last quarter. Finally, Optiver Holding B.V. increased its holdings in Parker-Hannifin by 1,545.3% in the first quarter. Optiver Holding B.V. now owns 1,053 shares of the industrial products company’s stock valued at $943,000 after purchasing an additional 989 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PH. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $1,027.38.

Parker-Hannifin Price Performance

Shares of PH opened at $978.14 on Monday. The stock has a 50 day simple moving average of $933.72 and a 200 day simple moving average of $938.15. Parker-Hannifin Corporation has a 52-week low of $692.02 and a 52-week high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm has a market capitalization of $123.33 billion, a PE ratio of 36.08, a P/E/G ratio of 2.61 and a beta of 1.12.

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