Carmignac Gestion Makes New $31.72 Million Investment in Parker-Hannifin Corporation $PH

Carmignac Gestion acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) in the first quarter, HoldingsChannel.com reports. The firm acquired 35,433 shares of the industrial products company’s stock, valued at approximately $31,721,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PH. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. HFM Investment Advisors LLC lifted its holdings in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin in the fourth quarter valued at about $31,000. NFSG Corp boosted its position in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PH shares. Wells Fargo & Company dropped 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. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a report on Thursday, July 16th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Trading Up 0.2%

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

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 earnings per share. As a group, equities analysts expect that Parker-Hannifin Corporation will post 31.26 earnings per share 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.