Parker-Hannifin Corporation (NYSE:PH) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. cut its position in Parker-Hannifin Corporation (NYSE:PH) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,289 shares of the industrial products company’s stock after selling 647 shares during the period. First Mercantile Trust Co.’s holdings in Parker-Hannifin Corporation were worth $1,325,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. Harbour Capital Advisors LLC purchased a new position in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $112,000. Quadrant Capital Group LLC raised its position in shares of Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC raised its position in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the period. FNY Partners Fund LP purchased a new position in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $160,000. Finally, Independent Portfolio Consultants Inc. raised its position in shares of Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after buying an additional 479 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.
Shares of Parker-Hannifin Corporation (PH) opened at 157.02 on Friday. The firm has a 50-day moving average price of $162.43 and a 200 day moving average price of $158.07. The stock has a market cap of $20.93 billion, a PE ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Equities research analysts expect that Parker-Hannifin Corporation will post $9.06 earnings per share for the current year.
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Several brokerages have recently commented on PH. Stifel Nicolaus set a $198.00 price objective on Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $163.00 price objective on shares of Parker-Hannifin Corporation in a research report on Thursday, August 3rd. Wolfe Research began coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price objective on the stock. Finally, Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Parker-Hannifin Corporation currently has an average rating of “Buy” and an average target price of $168.69.
In other news, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $160.08, for a total transaction of $456,228.00. Following the transaction, the vice president now owns 21,968 shares of the company’s stock, valued at $3,516,637.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the transaction, the vice president now directly owns 21,753 shares in the company, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Corporate insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation Company Profile
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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