361 Capital LLC Purchases New Holdings in Parker-Hannifin Corporation (PH)

361 Capital LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,640 shares of the industrial products company’s stock, valued at approximately $1,700,000.

Several other institutional investors also recently modified their holdings of PH. Israel Discount Bank of New York increased its holdings in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin Corporation in the first quarter valued at approximately $112,000. IHT Wealth Management LLC increased its holdings in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares in the last quarter. Finally, BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin Corporation in the second quarter valued at approximately $124,000. 79.72% of the stock is owned by institutional investors and hedge funds.

Shares of Parker-Hannifin Corporation (NYSE PH) traded down 0.23% during trading on Wednesday, hitting $177.09. 64,504 shares of the stock were exchanged. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $178.50. The stock has a market cap of $23.59 billion, a P/E ratio of 24.43 and a beta of 1.42. The firm’s 50 day moving average price is $168.74 and its 200-day moving average price is $162.03.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corporation will post $9.10 EPS for the current year.

In other news, Director Candy M. Obourn sold 1,241 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $161.46, for a total value of $200,371.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Martin C. Maxwell sold 2,640 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the completion of the sale, the vice president now directly owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,389 shares of company stock worth $878,913. Insiders own 1.12% of the company’s stock.

A number of equities analysts have issued reports on PH shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $189.00 price objective on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research note on Tuesday. Finally, Morgan Stanley cut shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective on the stock. in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $177.18.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://sportsperspectives.com/2017/10/11/361-capital-llc-purchases-new-holdings-in-parker-hannifin-corporation-ph.html.

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH).

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

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply