Bowen Hanes & Co. Inc. reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,555 shares of the industrial products company’s stock after selling 300 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Parker-Hannifin Corporation were worth $1,847,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PH. Macquarie Group Ltd. raised its position in Parker-Hannifin Corporation by 120.5% in the fourth quarter. Macquarie Group Ltd. now owns 145,042 shares of the industrial products company’s stock worth $20,306,000 after buying an additional 79,254 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Parker-Hannifin Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 115,174 shares of the industrial products company’s stock worth $18,465,000 after buying an additional 3,640 shares during the last quarter. Manning & Napier Advisors LLC raised its position in Parker-Hannifin Corporation by 8.6% in the first quarter. Manning & Napier Advisors LLC now owns 22,209 shares of the industrial products company’s stock worth $3,560,000 after buying an additional 1,750 shares during the last quarter. Raymond James Trust N.A. raised its position in Parker-Hannifin Corporation by 52.5% in the first quarter. Raymond James Trust N.A. now owns 4,353 shares of the industrial products company’s stock worth $698,000 after buying an additional 1,499 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its position in Parker-Hannifin Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 41,655 shares of the industrial products company’s stock worth $6,678,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Shares of Parker-Hannifin Corporation (PH) opened at 164.22 on Monday. The company’s 50-day moving average price is $162.13 and its 200-day moving average price is $157.33. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50. The firm has a market capitalization of $21.87 billion, a P/E ratio of 23.92 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. On average, equities research analysts expect that Parker-Hannifin Corporation will post $9.06 EPS for the current fiscal year.

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PH has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Monday, April 10th. Credit Suisse Group set a $169.00 price objective on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Jefferies Group LLC reiterated a “sell” rating on shares of Parker-Hannifin Corporation in a research note on Friday, April 14th. Barclays PLC reiterated an “equal weight” rating and issued a $148.00 price objective (down from $158.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday, April 19th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $175.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, April 20th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $168.56.

In other Parker-Hannifin Corporation news, VP William R. Bowman sold 2,900 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $158.92, for a total value of $460,868.00. Following the transaction, the vice president now directly owns 1,172 shares of the company’s stock, valued at approximately $186,254.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction dated Friday, June 2nd. The shares were 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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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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