Shell Asset Management Co. decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,840 shares of the company’s stock after selling 1,654 shares during the period. Shell Asset Management Co.’s holdings in Parker-Hannifin Corporation were worth $2,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Parker-Hannifin Corporation by 24.4% in the second quarter. Van ECK Associates Corp now owns 1,091 shares of the company’s stock valued at $118,000 after buying an additional 214 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Parker-Hannifin Corporation by 2.7% in the second quarter. Signaturefd LLC now owns 1,307 shares of the company’s stock valued at $141,000 after buying an additional 34 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Parker-Hannifin Corporation by 398.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,182 shares of the company’s stock valued at $148,000 after buying an additional 945 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Parker-Hannifin Corporation by 72.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,767 shares of the company’s stock valued at $191,000 after buying an additional 741 shares in the last quarter. Finally, Catawba Capital Management VA acquired a new stake in shares of Parker-Hannifin Corporation during the third quarter valued at $202,000. Institutional investors own 78.39% of the company’s stock.

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

Parker-Hannifin Corporation (NYSE:PH) traded up 1.61% during midday trading on Friday, reaching $146.07. 659,366 shares of the company’s stock traded hands. The firm has a market cap of $19.49 billion, a PE ratio of 24.22 and a beta of 1.28. Parker-Hannifin Corporation has a 52-week low of $83.32 and a 52-week high of $146.34. The firm’s 50-day moving average is $141.78 and its 200 day moving average is $126.33.

Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Friday, October 21st. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.05. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. Parker-Hannifin Corporation had a net margin of 7.32% and a return on equity of 18.74%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post $6.83 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Parker-Hannifin Corporation (PH) Shares Sold by Shell Asset Management Co.” was originally published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another domain, it was copied illegally and republished in violation of international copyright law. The legal version of this piece of content can be viewed at http://www.dailypolitical.com/2017/01/13/parker-hannifin-corporation-ph-shares-sold-by-shell-asset-management-co.html.

PH has been the topic of a number of research analyst reports. TheStreet raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, November 9th. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Wednesday, November 9th. Evercore ISI raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Stifel Nicolaus raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Deutsche Bank AG raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. Parker-Hannifin Corporation currently has an average rating of “Buy” and a consensus price target of $130.56.

In related news, VP John G. Dedinsky, Jr. sold 1,472 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $143.63, for a total transaction of $211,423.36. Following the sale, the vice president now owns 28,481 shares of the company’s stock, valued at $4,090,726.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jon P. Marten sold 6,337 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $141.75, for a total transaction of $898,269.75. Following the sale, the executive vice president now directly owns 34,553 shares in the company, valued at approximately $4,897,887.75. The disclosure for this sale can be found here. 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

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH).

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.