Sat Oct 05 04:03:23 UTC 2024: ## Farmers Trust Co. Trims Parker-Hannifin Holdings, Institutional Investors Remain Bullish

**New York, NY – October 5th, 2024** – Farmers Trust Co. has slightly reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 0.8% in the third quarter, according to recent SEC filings. However, other institutional investors and hedge funds remain bullish on the industrial products company, with several increasing their holdings in the fourth quarter.

Rafferty Asset Management LLC, Tower Research Capital LLC TRC, Oppenheimer & Co. Inc., Cetera Advisor Networks LLC, and 1832 Asset Management L.P. all significantly boosted their positions in Parker-Hannifin, indicating strong confidence in the company’s future performance. Overall, 82.44% of Parker-Hannifin’s stock is currently owned by institutional investors and hedge funds.

Analysts are also optimistic about Parker-Hannifin. Several research firms have recently raised their price targets and maintained a “buy” rating on the stock. Barclays, StockNews.com, Stifel Nicolaus, Evercore ISI, and Robert W. Baird are among those who have expressed bullish sentiment. MarketBeat.com currently rates the stock with an average “Moderate Buy” rating and a consensus target price of $636.64.

Parker-Hannifin’s recent earnings report further fueled investor confidence. The company exceeded analysts’ expectations for both earnings and revenue in the third quarter, posting strong growth compared to the same period last year.

While some insider selling has been reported, the company’s recent dividend announcement and continued growth in the industrial sector suggest that Parker-Hannifin remains a strong investment opportunity.

**Disclaimer:** This news article is based on publicly available information and does not constitute investment advice. Investors should conduct their own research before making any investment decisions.

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