Oakbrook Investments LLC trimmed its stake in Parker-Hannifin Corp (NYSE:PH) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,750 shares of the industrial products company’s stock after selling 450 shares during the period. Oakbrook Investments LLC’s holdings in Parker-Hannifin were worth $2,168,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 11.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 537 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 55 shares during the period. LS Investment Advisors LLC lifted its holdings in Parker-Hannifin by 1.6% during the 1st quarter. LS Investment Advisors LLC now owns 4,703 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 74 shares during the last quarter. First Manhattan Co. lifted its holdings in Parker-Hannifin by 17.1% during the 1st quarter. First Manhattan Co. now owns 526 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 77 shares during the last quarter. Dubuque Bank & Trust Co. lifted its holdings in Parker-Hannifin by 97.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 78 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in Parker-Hannifin by 6.4% during the 4th quarter. MML Investors Services LLC now owns 1,403 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 79.44% of the company’s stock.
In other news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total transaction of $52,671.36. Following the completion of the sale, the vice president now owns 24,260 shares in the company, valued at approximately $3,802,997.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.12% of the stock is owned by insiders.
Shares of NYSE PH traded down $2.43 during trading on Friday, reaching $174.86. The company had a trading volume of 37,908 shares, compared to its average volume of 918,435. Parker-Hannifin Corp has a 52 week low of $140.82 and a 52 week high of $193.19. The stock has a market cap of $22.44 billion, a PE ratio of 16.78, a PEG ratio of 1.62 and a beta of 1.55. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $168.12.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.16. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin Corp will post 11.62 EPS for the current year.
Several brokerages recently issued reports on PH. Wells Fargo & Co lifted their price target on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Stifel Nicolaus set a $113.00 price target on shares of Neurocrine Biosciences and gave the company a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on shares of Diageo and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $177.85.
Parker-Hannifin Company Profile
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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