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.
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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.
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