Tower Research Capital LLC TRC increased its position in Parker-Hannifin Corp. (NYSE:PH) by 1,237.1% during the second quarter, Holdings Channel reports. The fund owned 2,741 shares of the company’s stock after buying an additional 2,536 shares during the period. Tower Research Capital LLC TRC’s holdings in Parker-Hannifin Corp. were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased its position in shares of Parker-Hannifin Corp. by 33.5% in the second quarter. First Mercantile Trust Co. now owns 12,650 shares of the company’s stock worth $1,367,000 after buying an additional 3,175 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Parker-Hannifin Corp. during the second quarter worth $7,304,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Parker-Hannifin Corp. during the second quarter worth $238,000. Westpac Banking Corp increased its position in shares of Parker-Hannifin Corp. by 30.0% in the second quarter. Westpac Banking Corp now owns 7,719 shares of the company’s stock worth $834,000 after buying an additional 1,781 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. increased its position in shares of Parker-Hannifin Corp. by 72.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,767 shares of the company’s stock worth $191,000 after buying an additional 741 shares in the last quarter. 80.67% of the stock is owned by institutional investors.

Shares of Parker-Hannifin Corp. (NYSE:PH) opened at 122.03 on Wednesday. Parker-Hannifin Corp. has a 12 month low of $83.32 and a 12 month high of $125.00. The company has a market capitalization of $16.34 billion, a P/E ratio of 20.72 and a beta of 1.53. The stock’s 50 day moving average is $122.32 and its 200 day moving average is $114.44.

Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm earned $2.96 billion during the quarter, compared to analyst estimates of $2.93 billion. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. Parker-Hannifin Corp.’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. On average, equities analysts predict that Parker-Hannifin Corp. will post $6.80 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 29th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $2.52 annualized dividend and a dividend yield of 2.07%. Parker-Hannifin Corp.’s dividend payout ratio (DPR) is presently 42.86%.

A number of equities analysts have weighed in on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Parker-Hannifin Corp. in a research note on Monday, September 12th. KeyCorp reaffirmed a “buy” rating and set a $136.00 target price on shares of Parker-Hannifin Corp. in a research note on Thursday, September 8th. Deutsche Bank AG reaffirmed a “hold” rating and set a $109.00 target price on shares of Parker-Hannifin Corp. in a research note on Thursday, August 25th. Argus reaffirmed a “neutral” rating on shares of Parker-Hannifin Corp. in a research note on Thursday, August 18th. Finally, Goldman Sachs Group Inc. raised their target price on shares of Parker-Hannifin Corp. from $91.00 to $101.00 and gave the company a “sell” rating in a research note on Friday, August 5th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $113.75.

In related news, VP Martin C. Maxwell sold 893 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $120.62, for a total transaction of $107,713.66. Following the completion of the transaction, the vice president now owns 39,451 shares in the company, valued at approximately $4,758,579.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kurt A. Keller sold 757 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $122.12, for a total transaction of $92,444.84. Following the transaction, the vice president now owns 28,904 shares of the company’s stock, valued at approximately $3,529,756.48. The disclosure for this sale can be found here. Corporate insiders own 2.53% of the company’s stock.

About Parker-Hannifin Corp.

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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