Parker-Hannifin Corp. (NYSE:PH) shares saw unusually-strong trading volume on Tuesday . Approximately 986,211 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 869,138 shares.The stock last traded at $112.97 and had previously closed at $113.25.

Several analysts recently issued reports on PH shares. Avondale Partners started coverage on shares of Parker-Hannifin Corp. in a report on Thursday, April 7th. They issued a “market perform” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. lowered shares of Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $110.00 to $98.00 in a research note on Monday, June 27th. Zacks Investment Research upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Tuesday, June 21st. Morgan Stanley reiterated a “hold” rating on shares of Parker-Hannifin Corp. in a research note on Wednesday, April 27th. Finally, Wells Fargo & Co. upgraded shares of Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Parker-Hannifin Corp. presently has a consensus rating of “Hold” and a consensus price target of $108.29.

The firm has a market capitalization of $15.22 billion and a P/E ratio of 20.97. The firm’s 50 day moving average price is $111.25 and its 200 day moving average price is $108.44.

In other Parker-Hannifin Corp. news, CFO Jon P. Marten sold 5,172 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $116.01, for a total transaction of $600,003.72. Following the completion of the transaction, the chief financial officer now directly owns 36,041 shares in the company, valued at $4,181,116.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 1,507 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $113.44, for a total value of $170,954.08. Following the transaction, the vice president now owns 30,344 shares of the company’s stock, valued at $3,442,223.36. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently added to or reduced their stakes in PH. TrimTabs Asset Management LLC bought a new position in Parker-Hannifin Corp. during the fourth quarter valued at about $2,042,000. Dimensional Fund Advisors LP raised its position in Parker-Hannifin Corp. by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 662,642 shares of the company’s stock valued at $64,268,000 after buying an additional 30,671 shares in the last quarter. Trexquant Investment LP bought a new position in Parker-Hannifin Corp. during the fourth quarter valued at about $3,646,000. Advisors Asset Management Inc. raised its position in Parker-Hannifin Corp. by 50.3% in the fourth quarter. Advisors Asset Management Inc. now owns 28,614 shares of the company’s stock valued at $2,775,000 after buying an additional 9,575 shares in the last quarter. Finally, Eaton Vance Management raised its position in Parker-Hannifin Corp. by 0.4% in the fourth quarter. Eaton Vance Management now owns 84,726 shares of the company’s stock valued at $8,217,000 after buying an additional 325 shares in the last quarter.

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Company’s manufacturing, service, sales, distribution and administrative facilities are located in the United States and in 49 other countries.

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