Public Employees Retirement Association of Colorado Sells 1,032 Shares of Parker-Hannifin Co. (NYSE:PH)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 5.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,490 shares of the industrial products company’s stock after selling 1,032 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Parker-Hannifin were worth $10,277,000 as of its most recent filing with the SEC.

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

Insider Transactions at Parker-Hannifin

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PH shares. Barclays dropped their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. KeyCorp increased their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Raymond James began coverage on shares of Parker-Hannifin in a report on Friday, June 28th. They set an “outperform” rating and a $610.00 price objective for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $576.27.

Parker-Hannifin Trading Down 1.1 %

NYSE:PH opened at $548.52 on Tuesday. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $570.15. The firm has a 50-day moving average price of $524.67 and a two-hundred day moving average price of $527.39. The firm has a market cap of $70.51 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87.

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

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.