Parker-Hannifin Corporation (NYSE:PH) Stake Increased by IFP Advisors Inc
IFP Advisors Inc boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 17.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,435 shares of the industrial products company’s stock after buying an additional 518 shares during the period. IFP Advisors Inc’s holdings in Parker-Hannifin Corporation were worth $549,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares during the period. FMR LLC boosted its position in Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Parker-Hannifin Corporation during the first quarter valued at $81,629,000. Longview Partners Guernsey LTD boosted its position in Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after buying an additional 362,076 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Parker-Hannifin Corporation by 8.1% in the first quarter. Jennison Associates LLC now owns 4,673,164 shares of the industrial products company’s stock valued at $749,202,000 after buying an additional 349,010 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 157.02 on Friday. The stock has a market cap of $20.93 billion, a P/E ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The company’s 50-day moving average is $162.43 and its 200-day moving average is $158.07.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Equities analysts expect that Parker-Hannifin Corporation will post $9.06 EPS for the current fiscal year.
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Several research analysts have recently weighed in on PH shares. J P Morgan Chase & Co set a $175.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Thursday, May 18th. Barclays PLC reissued an “equal weight” rating and set a $148.00 price objective (down from $158.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, April 19th. BMO Capital Markets reissued a “buy” rating and set a $175.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday, April 20th. Jefferies Group LLC set a $163.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $168.69.
In related news, VP John G. Dedinsky, Jr. sold 2,530 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now directly owns 21,753 shares in the company, valued at approximately $3,501,797.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Martin C. Maxwell sold 2,850 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total transaction of $456,228.00. Following the completion of the sale, the vice president now owns 21,968 shares in the company, valued at $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by insiders.
About Parker-Hannifin Corporation
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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