Sei Investments Co. increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 10.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,786 shares of the industrial products company’s stock after buying an additional 9,500 shares during the period. Sei Investments Co. owned approximately 0.08% of Parker-Hannifin Corporation worth $16,109,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC bought a new position in Parker-Hannifin Corporation during the first quarter valued at approximately $112,000. Quadrant Capital Group LLC increased its position in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC increased its position in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the period. FNY Partners Fund LP bought a new position in Parker-Hannifin Corporation during the first quarter valued at approximately $160,000. Finally, Independent Portfolio Consultants Inc. increased its position in Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after buying an additional 479 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share.

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Several research analysts have commented on the stock. Credit Suisse Group set a $189.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, April 30th. Barclays PLC set a $162.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Sunday, April 30th. Jefferies Group LLC reissued a “hold” rating and set a $163.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday. Finally, BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $168.56.

In related news, VP William R. Bowman sold 2,900 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $158.92, for a total transaction of $460,868.00. Following the transaction, the vice president now directly owns 1,172 shares in the company, valued at $186,254.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the business’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 transaction, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. The disclosure for this sale can be found here. Insiders have sold 9,073 shares of company stock worth $1,450,748 over the last 90 days. 2.73% of the stock is currently owned by company insiders.

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.

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

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