BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 36.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 110,400 shares of the industrial products company’s stock after buying an additional 29,490 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Parker-Hannifin Corporation were worth $17,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Russell Investments Group Ltd. boosted its position in Parker-Hannifin Corporation by 62.9% in the first quarter. Russell Investments Group Ltd. now owns 95,188 shares of the industrial products company’s stock valued at $15,263,000 after buying an additional 36,758 shares during the period. Physicians Financial Services Inc. boosted its position in Parker-Hannifin Corporation by 1.8% in the first quarter. Physicians Financial Services Inc. now owns 5,750 shares of the industrial products company’s stock valued at $922,000 after buying an additional 100 shares during the period. Shell Asset Management Co. boosted its position in Parker-Hannifin Corporation by 1.0% in the first quarter. Shell Asset Management Co. now owns 19,997 shares of the industrial products company’s stock valued at $3,206,000 after buying an additional 204 shares during the period. Janney Montgomery Scott LLC boosted its position in Parker-Hannifin Corporation by 176.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,288 shares of the industrial products company’s stock valued at $1,008,000 after buying an additional 4,010 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its position in Parker-Hannifin Corporation by 156.5% in the first quarter. Glen Harbor Capital Management LLC now owns 63,750 shares of the industrial products company’s stock valued at $10,220,000 after buying an additional 38,896 shares during the period. Institutional investors own 80.66% of the company’s stock.

Shares of Parker-Hannifin Corporation (PH) opened at 158.26 on Tuesday. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 21.83 and a beta of 1.40. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50. The firm’s 50-day moving average is $162.40 and its 200 day moving average is $158.29.

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 for the quarter, beating the consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period last year, the business earned $1.90 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post $9.06 earnings per share for the current year.

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Several research firms have recently weighed in on PH. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 price target on shares of Parker-Hannifin Corporation in a report on Thursday, August 3rd. Wolfe Research started coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $168.69.

In other news, VP Martin C. Maxwell sold 2,850 shares of Parker-Hannifin Corporation stock in a transaction 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 sale, the vice president now directly owns 21,968 shares in the company, valued at approximately $3,516,637.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.

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

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