State of Wisconsin Investment Board raised its position in Parker-Hannifin Corporation (NYSE:PH) by 13.9% during the second quarter, Holdings Channel reports. The fund owned 234,354 shares of the industrial products company’s stock after buying an additional 28,530 shares during the period. State of Wisconsin Investment Board’s holdings in Parker-Hannifin Corporation were worth $37,454,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PH. Moody Lynn & Lieberson LLC raised its stake in shares of Parker-Hannifin Corporation by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 3,043 shares of the industrial products company’s stock worth $488,000 after buying an additional 10 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Parker-Hannifin Corporation by 2.1% in the first quarter. Rehmann Capital Advisory Group now owns 1,821 shares of the industrial products company’s stock worth $292,000 after buying an additional 37 shares during the last quarter. Warren Averett Asset Management LLC raised its stake in shares of Parker-Hannifin Corporation by 1.7% in the second quarter. Warren Averett Asset Management LLC now owns 2,398 shares of the industrial products company’s stock worth $383,000 after buying an additional 40 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Parker-Hannifin Corporation by 1.3% in the first quarter. Wetherby Asset Management Inc. now owns 3,457 shares of the industrial products company’s stock worth $554,000 after buying an additional 43 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC raised its stake in shares of Parker-Hannifin Corporation by 0.4% in the first quarter. Marble Harbor Investment Counsel LLC now owns 11,503 shares of the industrial products company’s stock worth $1,844,000 after buying an additional 50 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Corporation (NYSE PH) opened at 158.19 on Wednesday. The company’s 50-day moving average price is $162.43 and its 200 day moving average price is $158.35. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 21.82 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly 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 company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post $9.06 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.watchlistnews.com/parker-hannifin-corporation-ph-shares-bought-by-state-of-wisconsin-investment-board/1494736.html.

A number of brokerages have issued reports on PH. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. Finally, Barclays PLC set a $162.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Sunday, April 30th. 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 stock. The company presently has an average rating of “Buy” and a consensus target price of $168.69.

In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the sale, the vice president now owns 21,753 shares in the company, valued at approximately $3,501,797.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the sale, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. 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.

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 Corporation (NYSE:PH).

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

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.