Warren Averett Asset Management LLC increased its position in Parker-Hannifin Corporation (NYSE:PH) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Warren Averett Asset Management LLC’s holdings in Parker-Hannifin Corporation were worth $383,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of PH. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the first quarter worth about $112,000. Quadrant Capital Group LLC increased its stake in shares of 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 worth $131,000 after buying an additional 37 shares in the last quarter. 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 in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Parker-Hannifin Corporation during the first quarter worth $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 in the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Corporation (NYSE PH) traded up 0.81% during trading on Friday, hitting $157.02. 1,013,764 shares of the company traded hands. The stock has a 50-day moving average price of $162.43 and a 200-day moving average price of $158.07. The firm has a market capitalization of $20.93 billion, a P/E ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (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 in the prior year, the company posted $1.90 earnings per share. Parker-Hannifin Corporation’s revenue was up 18.2% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Corporation will post $9.06 EPS for the current fiscal year.
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A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Barclays PLC set a $162.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Sunday, April 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $165.00 price target (up from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday. Finally, Stifel Nicolaus set a $198.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Parker-Hannifin Corporation currently has a consensus rating of “Buy” and a consensus price target of $168.69.
In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the transaction, the vice president now owns 21,968 shares in the company, valued at approximately $3,516,637.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’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 completion of the transaction, the vice president now owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Corporate 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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