Rhumbline Advisers increased its position in Parker-Hannifin Corporation (NYSE:PH) by 4.8% during the second quarter, Holdings Channel reports. The firm owned 281,488 shares of the industrial products company’s stock after buying an additional 12,798 shares during the period. Rhumbline Advisers’ holdings in Parker-Hannifin Corporation were worth $44,987,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PH. 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 last quarter. Longview Partners Guernsey LTD boosted its position in shares of 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. Jennison Associates LLC boosted its position in shares of 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. FMR LLC boosted its position in shares of 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. Finally, Geode Capital Management LLC boosted its position in shares of Parker-Hannifin Corporation by 9.7% in the first quarter. Geode Capital Management LLC now owns 1,353,921 shares of the industrial products company’s stock valued at $216,760,000 after buying an additional 119,228 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 157.02 on Friday. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $167.50. The stock’s 50 day moving average is $162.43 and its 200 day moving average is $158.07. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 21.66 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s 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. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.06 EPS for the current year.

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Several brokerages recently weighed in on PH. BidaskClub cut shares of Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday. Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Wolfe Research began 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 target on the stock. One 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’s stock. Parker-Hannifin Corporation has an average rating of “Buy” and an average target price of $168.69.

In related news, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were 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 in the company, valued at $3,516,637.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total transaction of $407,279.40. Following the transaction, the vice president now owns 21,753 shares in the company, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. 2.73% of the stock is owned by corporate 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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