Mather Group LLC. Increases Position in Parker-Hannifin Co. (NYSE:PH)

Mather Group LLC. increased its position in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,594 shares of the industrial products company’s stock after acquiring an additional 49 shares during the period. Mather Group LLC.’s holdings in Parker-Hannifin were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its holdings in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Sachetta LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the first quarter valued at approximately $31,000. Wetzel Investment Advisors Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $26,000. Finally, First United Bank & Trust purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. 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 research report on Tuesday, May 28th. Wells Fargo & Company reduced their price target on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Raymond James started coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Finally, 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 note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $584.21.

Parker-Hannifin Trading Up 2.2 %

PH stock traded up $11.33 during trading on Tuesday, reaching $517.64. 638,868 shares of the stock were exchanged, compared to its average volume of 661,117. 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 firm has a market capitalization of $66.54 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 2.04 and a beta of 1.44. The business has a 50 day moving average price of $524.52 and a 200-day moving average price of $529.98. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15.

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.