Copper Rock Capital Partners LLC boosted its position in shares of Parker-Hannifin Corp (NYSE:PH) by 24.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 59,701 shares of the industrial products company’s stock after buying an additional 11,742 shares during the period. Copper Rock Capital Partners LLC’s holdings in Parker-Hannifin were worth $11,893,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Eagle Asset Management Inc. boosted its position in shares of Parker-Hannifin by 0.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 16,719 shares of the industrial products company’s stock valued at $2,672,000 after purchasing an additional 56 shares during the period. Tredje AP fonden boosted its position in shares of Parker-Hannifin by 146.9% in the 2nd quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock valued at $2,170,000 after purchasing an additional 8,078 shares during the period. Private Advisor Group LLC boosted its position in shares of Parker-Hannifin by 7.2% in the 2nd quarter. Private Advisor Group LLC now owns 3,511 shares of the industrial products company’s stock valued at $573,000 after purchasing an additional 236 shares during the period. CIBC World Markets Inc. boosted its position in shares of Parker-Hannifin by 175.7% in the 2nd quarter. CIBC World Markets Inc. now owns 15,756 shares of the industrial products company’s stock valued at $2,518,000 after purchasing an additional 10,041 shares during the period. Finally, Eaton Vance Management boosted its position in shares of Parker-Hannifin by 2.5% in the 2nd quarter. Eaton Vance Management now owns 75,961 shares of the industrial products company’s stock valued at $12,140,000 after purchasing an additional 1,817 shares during the period. 78.04% of the stock is owned by institutional investors and hedge funds.
In other news, VP Robert W. Bond sold 5,517 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the sale, the vice president now directly owns 28,265 shares of the company’s stock, valued at approximately $5,136,315.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 326 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $181.89, for a total value of $59,296.14. The disclosure for this sale can be found here. Insiders have sold a total of 22,495 shares of company stock valued at $4,127,941 over the last ninety days. Company insiders own 1.12% of the company’s stock.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. analysts predict that Parker-Hannifin Corp will post 9.57 earnings per share for the current year.
A number of equities analysts recently weighed in on PH shares. Cowen reiterated a “hold” rating and issued a $140.00 price target on shares of Parker-Hannifin in a research report on Friday, October 6th. Zacks Investment Research upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 price target for the company in a research report on Tuesday, November 7th. Robert W. Baird increased their price target on Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. BMO Capital Markets increased their price target on Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Finally, KeyCorp reiterated a “buy” rating and issued a $205.00 price target on shares of Parker-Hannifin in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $191.53.
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Parker-Hannifin Company Profile
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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