Leavell Investment Management Inc. Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Leavell Investment Management Inc. lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,846 shares of the industrial products company’s stock after buying an additional 54 shares during the period. Leavell Investment Management Inc.’s holdings in Parker-Hannifin were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC raised its stake in Parker-Hannifin by 60.6% during the first 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 during the period. Sachetta LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the first quarter worth about $31,000. Wetzel Investment Advisors Inc. purchased a new position in Parker-Hannifin during the fourth quarter worth about $26,000. Finally, First United Bank & Trust acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $29,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. Bank of America lifted their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Stifel Nicolaus dropped their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Raymond James began coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They set an “outperform” rating and a $610.00 price target for the company. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $615.43.

Parker-Hannifin Stock Up 2.3 %

Shares of NYSE:PH traded up $13.14 during trading on Thursday, hitting $591.53. 657,762 shares of the company were exchanged, compared to its average volume of 669,612. The stock has a market capitalization of $76.04 billion, a P/E ratio of 27.84, a PEG ratio of 2.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $593.28. The firm’s 50 day moving average price is $529.16 and its 200-day moving average price is $533.73.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.08 EPS. On average, research analysts predict that Parker-Hannifin Co. will post 26.58 earnings per share for the current fiscal 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.