Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Palladium Partners LLC
Palladium Partners LLC cut its stake in Parker-Hannifin Corporation (NYSE:PH) by 5.9% during the second quarter, Holdings Channel reports. The firm owned 2,599 shares of the industrial products company’s stock after selling 162 shares during the period. Palladium Partners LLC’s holdings in Parker-Hannifin Corporation were worth $415,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. raised its stake in shares of Parker-Hannifin Corporation by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,558 shares of the industrial products company’s stock valued at $533,000 after buying an additional 128 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of Parker-Hannifin Corporation by 369.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 67,305 shares of the industrial products company’s stock valued at $10,791,000 after buying an additional 52,953 shares during the period. Retirement Systems of Alabama raised its stake in shares of Parker-Hannifin Corporation by 1.9% in the first quarter. Retirement Systems of Alabama now owns 64,432 shares of the industrial products company’s stock valued at $10,330,000 after buying an additional 1,206 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $362,000. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of Parker-Hannifin Corporation by 290.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 14,613 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 10,870 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.
Parker-Hannifin Corporation (PH) opened at 164.22 on Monday. The company has a 50-day moving average of $162.13 and a 200-day moving average of $157.33. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 23.92 and a beta of 1.40. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.06 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $198.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday. BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $163.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday. Wolfe Research assumed coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Monday, April 10th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $168.56.
In other news, VP Robert W. Malone sold 793 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total value of $126,372.48. Following the transaction, the vice president now directly owns 11,549 shares of the company’s stock, valued at $1,840,448.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the transaction, the vice president now directly owns 21,753 shares in the company, valued at $3,501,797.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,073 shares of company stock worth $1,450,748. Insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation Company Profile
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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