Carnegie Capital Asset Management LLC reduced its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 11.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 14,868 shares of the industrial products company’s stock after selling 2,010 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Parker-Hannifin were worth $2,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in Parker-Hannifin by 20.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,020 shares of the industrial products company’s stock valued at $859,000 after purchasing an additional 856 shares during the period. Glen Harbor Capital Management LLC raised its stake in Parker-Hannifin by 27.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 13,124 shares of the industrial products company’s stock valued at $2,244,000 after purchasing an additional 2,856 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Parker-Hannifin during the 1st quarter valued at approximately $230,000. Nippon Life Global Investors Americas Inc. raised its stake in Parker-Hannifin by 19.6% during the 1st quarter. Nippon Life Global Investors Americas Inc. now owns 15,250 shares of the industrial products company’s stock valued at $2,609,000 after purchasing an additional 2,500 shares during the period. Finally, Toronto Dominion Bank raised its stake in Parker-Hannifin by 21.8% during the 1st quarter. Toronto Dominion Bank now owns 80,051 shares of the industrial products company’s stock valued at $13,686,000 after purchasing an additional 14,340 shares during the period. 79.53% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on PH. Morgan Stanley began coverage on Parker-Hannifin in a research note on Monday, August 20th. They set an “equal weight” rating and a $185.00 target price on the stock. Jefferies Financial Group reissued a “$162.10” rating and set a $170.00 target price on shares of Parker-Hannifin in a research note on Wednesday, July 18th. Cowen reissued a “hold” rating and set a $165.00 target price on shares of Parker-Hannifin in a research note on Friday, July 20th. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, MED downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $169.00 target price on the stock. in a research note on Thursday, July 12th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $188.78.

NYSE:PH opened at $190.48 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59. Parker-Hannifin Corp has a 1 year low of $152.47 and a 1 year high of $212.80. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.46 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.31. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the company posted $2.45 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. equities analysts expect that Parker-Hannifin Corp will post 11.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, August 27th. Parker-Hannifin’s payout ratio is 29.17%.

In other news, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the completion of the transaction, the vice president now owns 15,731 shares in the company, valued at approximately $2,777,465.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the transaction, the vice president now owns 1,325 shares of the company’s stock, valued at approximately $232,352. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

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

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