Shares of Parker-Hannifin Corp. (NYSE:PH) hit a new 52-week high on Wednesday . The stock traded as high as $124.72 and last traded at $124.70, with a volume of 455,000 shares. The stock had previously closed at $124.11.

Several brokerages have recently weighed in on PH. Goldman Sachs Group Inc. boosted their price objective on shares of Parker-Hannifin Corp. from $91.00 to $101.00 and gave the stock a “sell” rating in a research report on Friday, August 5th. Citigroup Inc. boosted their price objective on shares of Parker-Hannifin Corp. from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Zacks Investment Research upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Thursday, April 28th. Morgan Stanley restated a “hold” rating on shares of Parker-Hannifin Corp. in a research report on Tuesday, April 19th. Finally, Jefferies Group restated a “hold” rating and set a $100.00 price objective on shares of Parker-Hannifin Corp. in a research report on Sunday, May 1st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Parker-Hannifin Corp. presently has an average rating of “Hold” and an average target price of $112.27.

The company has a market cap of $16.74 billion and a price-to-earnings ratio of 21.14. The firm has a 50-day moving average price of $114.32 and a 200-day moving average price of $110.56.

Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. During the same quarter in the previous year, the business posted $1.73 earnings per share. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.93 billion. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Corp. will post $6.79 earnings per share for the current year.

In related news, VP Martin C. Maxwell sold 893 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $120.62, for a total transaction of $107,713.66. Following the completion of the transaction, the vice president now directly owns 39,451 shares in the company, valued at $4,758,579.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert W. Bond sold 9,756 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $116.66, for a total value of $1,138,134.96. Following the transaction, the vice president now owns 369 shares of the company’s stock, valued at $43,047.54. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently bought and sold shares of PH. Advantus Capital Management Inc increased its position in Parker-Hannifin Corp. by 0.3% in the fourth quarter. Advantus Capital Management Inc now owns 13,033 shares of the company’s stock worth $1,264,000 after buying an additional 45 shares during the last quarter. Ancora Advisors LLC boosted its position in shares of Parker-Hannifin Corp. by 86.4% in the fourth quarter. Ancora Advisors LLC now owns 12,320 shares of the company’s stock valued at $1,589,000 after buying an additional 5,710 shares during the period. Suntrust Banks Inc. boosted its position in shares of Parker-Hannifin Corp. by 0.6% in the fourth quarter. Suntrust Banks Inc. now owns 25,784 shares of the company’s stock valued at $2,498,000 after buying an additional 142 shares during the period. Advisors Asset Management Inc. boosted its position in shares of 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 during the period. Finally, Trexquant Investment LP bought a new position in shares of Parker-Hannifin Corp. during the fourth quarter valued at approximately $3,646,000.

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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