ING Groep NV cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,803 shares of the industrial products company’s stock after selling 11 shares during the period. ING Groep NV’s holdings in Parker-Hannifin Corporation were worth $1,087,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares during the last quarter. FMR LLC boosted its stake in Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $81,629,000. Jennison Associates LLC raised its position in shares of Parker-Hannifin Corporation by 8.1% in the first quarter. Jennison Associates LLC now owns 4,673,164 shares of the industrial products company’s stock valued at $749,202,000 after buying an additional 349,010 shares during the period. Finally, USS Investment Management Ltd purchased a new position in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $31,264,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.81% during mid-day trading on Friday, hitting $157.02. The company had a trading volume of 1,013,764 shares. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 21.66 and a beta of 1.40. The company has a 50-day moving average price of $162.45 and a 200-day moving average price of $157.96.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. On average, equities analysts anticipate that Parker-Hannifin Corporation will post $9.06 EPS for the current year.
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Several brokerages have recently commented on PH. Wolfe Research began coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price objective on the stock. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Sunday, May 28th. BidaskClub upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. BMO Capital Markets restated a “buy” rating and set a $175.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday, April 20th. Finally, Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $168.69.
In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the transaction, the vice president now owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of Parker-Hannifin Corporation stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $160.08, for a total transaction of $456,228.00. Following the sale, the vice president now directly owns 21,968 shares in the company, valued at approximately $3,516,637.44. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.
About Parker-Hannifin Corporation
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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