Cwm LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Cwm LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,017 shares of the industrial products company’s stock after acquiring an additional 330 shares during the quarter. Cwm LLC’s holdings in Parker-Hannifin were worth $2,032,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PH. Sachetta LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin in the 4th quarter worth about $26,000. First United Bank & Trust acquired a new stake in Parker-Hannifin in the 4th quarter worth about $29,000. Harbor Investment Advisory LLC boosted its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.4 %

PH stock traded up $2.25 during mid-day trading on Friday, reaching $570.33. 199,112 shares of the stock traded hands, compared to its average volume of 665,701. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $576.54. The stock’s fifty day moving average is $525.02 and its 200-day moving average is $530.46. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The company has a market cap of $73.31 billion, a P/E ratio of 26.58, a P/E/G ratio of 2.04 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the firm posted $6.08 earnings per share. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 24.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Raymond James initiated coverage on Parker-Hannifin in a research note on Friday, June 28th. They issued an “outperform” rating and a $610.00 price objective on the stock. Truist Financial reiterated a “buy” rating and set a $673.00 target price (up from $621.00) on shares of Parker-Hannifin in a report on Friday. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Robert W. Baird raised their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday. Finally, Argus raised their target price on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $602.64.

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.