Pinnacle Financial Partners Inc. bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,795 shares of the industrial products company’s stock, valued at approximately $287,000.

Several other large investors have also recently bought and sold shares of PH. Harbour Capital Advisors LLC purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at about $112,000. TrimTabs Asset Management LLC raised its stake in 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 last quarter. FNY Partners Fund LP purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at about $160,000. Independent Portfolio Consultants Inc. raised its stake in 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 last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Parker-Hannifin Corporation by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,291 shares of the industrial products company’s stock valued at $207,000 after buying an additional 62 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 158.26 on Tuesday. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50. The firm has a 50-day moving average of $162.40 and a 200-day moving average of $158.29. The firm has a market cap of $21.09 billion, a P/E ratio of 21.83 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates 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%. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.06 earnings per share for the current fiscal year.

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PH has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. ValuEngine raised shares of 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 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. Finally, J P Morgan Chase & Co set a $175.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $168.69.

In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were 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 $3,516,637.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were 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 directly 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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