Parker-Hannifin Corp (PH) Position Trimmed by New Mexico Educational Retirement Board
New Mexico Educational Retirement Board trimmed its position in shares of Parker-Hannifin Corp (NYSE:PH) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,010 shares of the industrial products company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Parker-Hannifin were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parker-Hannifin during the fourth quarter worth $26,000. Dubuque Bank & Trust Co. boosted its position in Parker-Hannifin by 97.5% during the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 78 shares during the period. First Mercantile Trust Co. boosted its position in Parker-Hannifin by 58.3% during the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 70 shares during the period. Athena Capital Advisors LLC bought a new position in Parker-Hannifin during the fourth quarter worth $32,000. Finally, JOYN Advisors Inc. boosted its position in Parker-Hannifin by 42.9% during the fourth quarter. JOYN Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.
In related news, VP William R. Bowman sold 875 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $171.82, for a total transaction of $150,342.50. Following the completion of the sale, the vice president now owns 450 shares of the company’s stock, valued at $77,319. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Candy M. Obourn sold 926 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $162.18, for a total transaction of $150,178.68. The disclosure for this sale can be found here. In the last three months, insiders sold 10,445 shares of company stock valued at $1,814,218. 1.12% of the stock is currently owned by company insiders.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 31st. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.10. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Parker-Hannifin had a net margin of 9.69% and a return on equity of 25.82%. During the same quarter in the previous year, the business posted $2.15 earnings per share. As a group, analysts anticipate that Parker-Hannifin Corp will post 11.65 earnings per share for the current year.
A number of equities analysts have commented on PH shares. Barclays reduced their price objective on shares of Parker-Hannifin from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Monday, January 7th. Robert W. Baird set a $180.00 price objective on shares of Parker-Hannifin and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $181.00 to $171.00 in a research report on Friday, February 1st. Morgan Stanley set a $172.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, Zacks Investment Research cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Parker-Hannifin has a consensus rating of “Hold” and a consensus price target of $182.00.
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.
Recommended Story: Catch-Up Contributions
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corp (NYSE:PH).
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.