Hsbc Holdings PLC reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 4.5% during the third quarter, Holdings Channel reports. The fund owned 121,364 shares of the company’s stock after selling 5,655 shares during the period. Hsbc Holdings PLC’s holdings in Parker-Hannifin Corporation were worth $15,240,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PH. Bank of Montreal Can bought a new stake in shares of Parker-Hannifin Corporation during the second quarter valued at about $91,657,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Parker-Hannifin Corporation during the second quarter valued at about $53,423,000. TIAA CREF Investment Management LLC increased its stake in shares of Parker-Hannifin Corporation by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,498,918 shares of the company’s stock valued at $161,958,000 after buying an additional 428,032 shares during the last quarter. AXA increased its stake in shares of Parker-Hannifin Corporation by 839.3% in the second quarter. AXA now owns 435,814 shares of the company’s stock valued at $47,089,000 after buying an additional 389,414 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Parker-Hannifin Corporation by 49.4% in the third quarter. JPMorgan Chase & Co. now owns 1,083,010 shares of the company’s stock valued at $135,949,000 after buying an additional 358,309 shares during the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.

Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

Parker-Hannifin Corporation (NYSE:PH) opened at 143.75 on Friday. Parker-Hannifin Corporation has a 12-month low of $83.32 and a 12-month high of $145.44. The company has a market capitalization of $19.18 billion, a PE ratio of 23.84 and a beta of 1.28. The company has a 50 day moving average price of $141.78 and a 200-day moving average price of $126.33.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Friday, October 21st. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.05. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Parker-Hannifin Corporation had a return on equity of 18.74% and a net margin of 7.32%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post $6.83 EPS for the current year.

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Several equities research analysts have recently issued reports on PH shares. Morgan Stanley upgraded shares of Parker-Hannifin Corporation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $118.00 to $139.00 in a research note on Monday, November 7th. Zacks Investment Research downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 17th. Stifel Nicolaus upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and raised their price objective for the stock from $131.00 to $141.00 in a research note on Wednesday, October 5th. Goldman Sachs Group, Inc. (The) upgraded shares of Parker-Hannifin Corporation from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $106.00 to $120.00 in a research note on Tuesday, October 11th. Finally, Evercore ISI upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $128.25.

In other news, VP John G. Dedinsky, Jr. sold 1,472 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $143.63, for a total transaction of $211,423.36. Following the sale, the vice president now directly owns 28,481 shares of the company’s stock, valued at approximately $4,090,726.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Candy M. Obourn sold 1,755 shares of the stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $142.92, for a total value of $250,824.60. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.

About Parker-Hannifin Corporation

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.

5 Day Chart for NYSE:PH

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