Jag Capital Management LLC Has $2.20 Million Holdings in Parker-Hannifin Corp (PH)
Jag Capital Management LLC cut its holdings in Parker-Hannifin Corp (NYSE:PH) by 13.7% in the fourth quarter, Holdings Channel reports. The fund owned 11,037 shares of the industrial products company’s stock after selling 1,749 shares during the quarter. Jag Capital Management LLC’s holdings in Parker-Hannifin were worth $2,203,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Parker-Hannifin by 1.0% in the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after buying an additional 90,732 shares during the last quarter. Longview Partners Guernsey LTD lifted its stake in shares of Parker-Hannifin by 5.4% in the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after buying an additional 278,500 shares during the last quarter. FMR LLC lifted its stake in shares of Parker-Hannifin by 11.7% in the second quarter. FMR LLC now owns 1,959,733 shares of the industrial products company’s stock worth $313,205,000 after buying an additional 204,826 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Parker-Hannifin by 1,175.0% in the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock worth $215,499,000 after buying an additional 1,242,624 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Parker-Hannifin by 1.3% in the third quarter. Legal & General Group Plc now owns 702,748 shares of the industrial products company’s stock worth $122,998,000 after buying an additional 8,914 shares during the last quarter. Hedge funds and other institutional investors own 78.21% of the company’s stock.
In other news, COO Lee C. Banks sold 5,286 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the sale, the chief operating officer now owns 112,808 shares in the company, valued at approximately $21,025,155.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $192.14, for a total transaction of $395,039.84. Following the completion of the sale, the vice president now owns 5,207 shares in the company, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock worth $4,127,941 in the last three months. Insiders own 1.12% of the company’s stock.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. sell-side analysts forecast that Parker-Hannifin Corp will post 9.75 EPS for the current year.
PH has been the subject of a number of analyst reports. Cowen restated a “hold” rating and issued a $140.00 price objective on shares of Parker-Hannifin in a research note on Friday, October 6th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research report on Tuesday, November 7th. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. BMO Capital Markets boosted their target price on shares of Parker-Hannifin from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Finally, Wells Fargo & Co boosted their target price on shares of Parker-Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Parker-Hannifin currently has a consensus rating of “Buy” and a consensus target price of $198.21.
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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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