Prudential PLC decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 19.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 49,282 shares of the industrial products company’s stock after selling 11,895 shares during the period. Prudential PLC’s holdings in Parker-Hannifin Corporation were worth $7,876,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Oxford Asset Management bought a new position in shares of Parker-Hannifin Corporation during the 1st quarter valued at $513,000. Neuberger Berman Group LLC raised its holdings in shares of Parker-Hannifin Corporation by 1.0% during the 1st quarter. Neuberger Berman Group LLC now owns 8,588 shares of the industrial products company’s stock valued at $1,377,000 after purchasing an additional 82 shares in the last quarter. AXA raised its holdings in shares of Parker-Hannifin Corporation by 3.5% during the 1st quarter. AXA now owns 104,916 shares of the industrial products company’s stock valued at $16,820,000 after purchasing an additional 3,503 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in shares of Parker-Hannifin Corporation by 13,110.7% during the 1st quarter. ClariVest Asset Management LLC now owns 106,478 shares of the industrial products company’s stock valued at $17,071,000 after purchasing an additional 105,672 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of Parker-Hannifin Corporation during the 1st quarter valued at $223,000. 79.67% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the stock. Jefferies Group LLC set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Wednesday, June 28th. Cowen and Company restated a “hold” rating and issued a $140.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday, October 6th. BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Robert W. Baird restated a “hold” rating and issued a $183.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $176.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $180.89.
Parker-Hannifin Corporation (NYSE:PH) traded up 0.163% during midday trading on Tuesday, hitting $181.705. 75,963 shares of the company were exchanged. The stock has a market capitalization of $24.19 billion, a PE ratio of 25.063 and a beta of 1.42. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $181.96. The firm’s 50-day moving average price is $170.98 and its 200-day moving average price is $162.51.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the 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 firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the company earned $1.90 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Corporation will post $9.13 earnings per share for the current year.
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In related news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the sale, the vice president now directly owns 7,318 shares in the company, valued at approximately $1,176,002.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. Insiders have sold 5,389 shares of company stock valued at $878,913 over the last 90 days. Corporate insiders own 1.12% of the company’s stock.
Parker-Hannifin Corporation 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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