Parker-Hannifin Corporation (PH) Shares Bought by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,104,347 shares of the industrial products company’s stock after buying an additional 194,858 shares during the period. TIAA CREF Investment Management LLC owned 1.58% of Parker-Hannifin Corporation worth $336,317,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Two Sigma Securities LLC acquired a new stake in Parker-Hannifin Corporation in the 1st quarter worth about $785,000. Stifel Financial Corp boosted its stake in Parker-Hannifin Corporation by 2.8% in the 1st quarter. Stifel Financial Corp now owns 353,400 shares of the industrial products company’s stock worth $56,657,000 after buying an additional 9,777 shares during the last quarter. Bank of Nova Scotia boosted its stake in Parker-Hannifin Corporation by 943.9% in the 1st quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock worth $4,896,000 after buying an additional 27,610 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in Parker-Hannifin Corporation by 4.7% in the 1st quarter. Boston Common Asset Management LLC now owns 3,255 shares of the industrial products company’s stock worth $522,000 after buying an additional 145 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Parker-Hannifin Corporation by 3.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 437,369 shares of the industrial products company’s stock worth $70,119,000 after buying an additional 16,479 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

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Parker-Hannifin Corporation (NYSE:PH) traded up 0.33% during trading on Tuesday, hitting $165.63. The stock had a trading volume of 422,265 shares. The company has a 50 day moving average of $160.57 and a 200-day moving average of $159.36. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50. The company has a market cap of $22.05 billion, a P/E ratio of 22.85 and a beta of 1.41.

Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping 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 company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the firm posted $1.90 EPS. The business’s revenue was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Corporation will post $9.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.60%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is currently 36.51%.

A number of brokerages have issued reports on PH. Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Friday, August 4th. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $163.00 price target on shares of Parker-Hannifin Corporation in a research note on Thursday, August 3rd. Wolfe Research began coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price target on the stock. Finally, ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $172.06.

In other news, Director Candy M. Obourn sold 1,241 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $161.46, for a total transaction of $200,371.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,749 shares of company stock worth $441,544. Insiders own 2.73% of the company’s stock.

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

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