California State Teachers Retirement System lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 245,019 shares of the industrial products company’s stock after selling 28,810 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Parker-Hannifin Corporation worth $39,159,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its position in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares during the period. Parallel Advisors LLC increased its position in Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares during the period. Israel Discount Bank of New York increased its position in Parker-Hannifin Corporation by 31.6% during the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares during the period. Harbour Capital Advisors LLC bought a new position in Parker-Hannifin Corporation during the first quarter worth $112,000. Finally, BT Investment Management Ltd bought a new position in Parker-Hannifin Corporation during the second quarter worth $124,000. 79.72% of the stock is currently owned by institutional investors.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.849% on Friday, reaching $181.609. 150,260 shares of the company traded hands. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $181.61. The company has a market capitalization of $24.18 billion, a P/E ratio of 25.050 and a beta of 1.42. The firm’s 50 day moving average is $169.91 and its 200 day moving average is $162.27.
Parker-Hannifin Corporation (NYSE:PH) last released 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. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Analysts expect that Parker-Hannifin Corporation will post $9.11 earnings per share for the current fiscal year.
PH has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. BidaskClub upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a research note on Tuesday. Finally, KeyCorp reiterated a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin Corporation in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. Parker-Hannifin Corporation has an average rating of “Buy” and an average target price of $178.44.
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In other news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the sale, the vice president now directly owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Insiders sold 5,389 shares of company stock worth $878,913 over the last ninety days. 1.12% of the stock is currently owned by 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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