Hanson & Doremus Investment Management Sells 180 Shares of Parker-Hannifin Corp. (PH)
Hanson & Doremus Investment Management cut its position in shares of Parker-Hannifin Corp. (NYSE:PH) by 12.0% during the second quarter, Holdings Channel reports. The fund owned 1,321 shares of the company’s stock after selling 180 shares during the period. Hanson & Doremus Investment Management’s holdings in Parker-Hannifin Corp. were worth $143,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of PH. Beutel Goodman & Co Ltd. acquired a new position in Parker-Hannifin Corp. during the second quarter valued at about $103,826,000. Bank of Montreal Can acquired a new position in Parker-Hannifin Corp. during the second quarter valued at about $91,657,000. Anchor Bolt Capital LP acquired a new position in Parker-Hannifin Corp. during the first quarter valued at about $88,431,000. American Century Companies Inc. boosted its position in Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock valued at $147,977,000 after buying an additional 279,278 shares in the last quarter. Finally, Smith Asset Management Group LP acquired a new position in Parker-Hannifin Corp. during the second quarter valued at about $21,954,000. 80.85% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Corp. (NYSE:PH) traded down 0.90% during midday trading on Tuesday, hitting $123.27. The company had a trading volume of 567,921 shares. Parker-Hannifin Corp. has a 12-month low of $83.32 and a 12-month high of $128.24. The company’s 50 day moving average is $123.45 and its 200 day moving average is $116.36. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 20.93 and a beta of 1.49.
Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. The business earned $2.96 billion during the quarter, compared to the consensus estimate of $2.93 billion. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. On average, equities analysts anticipate that Parker-Hannifin Corp. will post $6.80 EPS for the current fiscal year.
Several research analysts have recently issued reports on PH shares. Wells Fargo & Co. raised Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 30th. JPMorgan Chase & Co. cut Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $110.00 to $98.00 in a research report on Monday, June 27th. Jefferies Group reaffirmed a “hold” rating on shares of Parker-Hannifin Corp. in a research report on Monday, September 12th. Stifel Nicolaus raised Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Zacks Investment Research cut Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $117.88.
In other Parker-Hannifin Corp. news, VP Robert W. Bond sold 14,043 shares of Parker-Hannifin Corp. stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $124.51, for a total value of $1,748,493.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Lee C. Banks sold 10,953 shares of Parker-Hannifin Corp. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $124.28, for a total value of $1,361,238.84. Following the completion of the transaction, the chief operating officer now owns 99,977 shares of the company’s stock, valued at $12,425,141.56. The disclosure for this sale can be found here. 2.73% of the stock is owned by corporate insiders.
About Parker-Hannifin Corp.
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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