Sit Investment Associates Inc. Has $32.69 Million Stake in Parker-Hannifin Corp (PH)

Sit Investment Associates Inc. lifted its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 163,770 shares of the industrial products company’s stock after acquiring an additional 6,800 shares during the quarter. Sit Investment Associates Inc.’s holdings in Parker-Hannifin were worth $32,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC increased its holdings in Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares in the last quarter. People s United Financial Inc. increased its holdings in Parker-Hannifin by 0.5% in the second quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 31 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Parker-Hannifin by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,689 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 43 shares in the last quarter. National Asset Management Inc. increased its holdings in Parker-Hannifin by 4.7% in the second quarter. National Asset Management Inc. now owns 1,432 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 64 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its holdings in Parker-Hannifin by 3.5% in the second quarter. KCM Investment Advisors LLC now owns 1,938 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 78.04% of the company’s stock.

Shares of Parker-Hannifin Corp (NYSE PH) traded up $1.77 during trading hours on Wednesday, hitting $207.32. The company had a trading volume of 728,500 shares, compared to its average volume of 792,283. The stock has a market capitalization of $27,620.00, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.83 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. Parker-Hannifin Corp has a one year low of $140.74 and a one year high of $207.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. Parker-Hannifin’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.61 earnings per share. analysts anticipate that Parker-Hannifin Corp will post 9.57 earnings per share for the current year.

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,279 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total value of $945,310.53. Following the transaction, the vice president now owns 8,032 shares of the company’s stock, valued at $1,438,290.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the transaction, the vice president now directly owns 5,207 shares in the company, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,495 shares of company stock worth $4,127,941. 1.12% of the stock is owned by insiders.

PH has been the subject of a number of research analyst reports. Cowen reiterated a “hold” rating and issued a $140.00 target price on shares of Parker-Hannifin in a report on Friday, October 6th. Zacks Investment Research upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Tuesday, November 7th. Robert W. Baird boosted their price objective on Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. BMO Capital Markets boosted their price objective on Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Finally, KeyCorp restated a “buy” rating and set a $205.00 price objective on shares of Parker-Hannifin in a 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 assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $192.84.

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About Parker-Hannifin

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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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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