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

Several analysts have issued reports on the stock. Argus reaffirmed a “neutral” rating on shares of Parker-Hannifin Corp. in a research report on Thursday. Goldman Sachs Group Inc. upped their price target 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. Jefferies Group upped their price target on shares of Parker-Hannifin Corp. from $100.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Morgan Stanley set a $108.00 price target on shares of Parker-Hannifin Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $131.00 price target on shares of Parker-Hannifin Corp. in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $112.27.

The stock has a market cap of $16.67 billion and a PE ratio of 21.06. The stock has a 50 day moving average price of $115.51 and a 200 day moving average price of $110.75.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 29th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, August 25th.

In other news, CFO Jon P. Marten sold 5,172 shares of Parker-Hannifin Corp. 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 sale, the chief financial officer now directly owns 36,041 shares in the company, valued at approximately $4,181,116.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lee C. Banks sold 10,953 shares of Parker-Hannifin Corp. stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $124.28, for a total value of $1,361,238.84. Following the sale, the chief operating officer now owns 99,977 shares in the company, valued at $12,425,141.56. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake 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 worth $64,268,000 after buying an additional 30,671 shares during the last quarter. Morgan Stanley boosted its stake in Parker-Hannifin Corp. by 7.9% in the fourth quarter. Morgan Stanley now owns 212,946 shares of the company’s stock worth $20,652,000 after buying an additional 15,560 shares during the last quarter. Advisors Asset Management Inc. boosted its stake 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 worth $2,775,000 after buying an additional 9,575 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Parker-Hannifin Corp. by 0.4% in the fourth quarter. American International Group Inc. now owns 62,905 shares of the company’s stock worth $6,101,000 after buying an additional 253 shares during 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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