Pacific Heights Asset Management LLC maintained its position in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,000 shares of the industrial products company’s stock at the end of the second quarter. Parker-Hannifin Corporation makes up about 1.6% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Pacific Heights Asset Management LLC owned 0.08% of Parker-Hannifin Corporation worth $17,101,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Capital Advisors LLC bought a new stake in Parker-Hannifin Corporation during the first quarter valued at $112,000. Quadrant Capital Group LLC increased its stake in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Parker-Hannifin Corporation during the first quarter worth about $160,000. Finally, Independent Portfolio Consultants Inc. increased its stake in shares of Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock worth $180,000 after buying an additional 479 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.
Shares of Parker-Hannifin Corporation (PH) traded up 0.81% during midday trading on Friday, reaching $157.02. The company’s stock had a trading volume of 1,013,764 shares. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50. The stock has a 50 day moving average price of $162.43 and a 200-day moving average price of $158.07.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company earned $1.90 EPS. Parker-Hannifin Corporation’s revenue was up 18.2% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Corporation will post $9.06 EPS for the current year.
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A number of equities analysts have weighed in on PH shares. Barclays PLC restated an “equal weight” rating and set a $148.00 price objective (down from $158.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 target price (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday. Stifel Nicolaus reissued a “buy” rating and issued a $176.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, July 6th. Wolfe Research started coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price on the stock. Finally, J P Morgan Chase & Co set a $175.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $168.69.
In related news, 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 completion of the sale, the vice president now directly owns 21,968 shares of the company’s stock, valued at $3,516,637.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now directly owns 21,753 shares of the company’s stock, valued at $3,501,797.94. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation 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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