Parker-Hannifin Corporation (PH) Stake Cut by Physicians Financial Services Inc.
Physicians Financial Services Inc. reduced its position in Parker-Hannifin Corporation (NYSE:PH) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,500 shares of the industrial products company’s stock after selling 250 shares during the period. Physicians Financial Services Inc.’s holdings in Parker-Hannifin Corporation were worth $879,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Harbour Capital Advisors LLC purchased a new stake in Parker-Hannifin Corporation during the first quarter worth about $112,000. Quadrant Capital Group LLC increased its stake 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 worth $131,000 after buying an additional 37 shares in the last quarter. TrimTabs Asset Management LLC increased its stake 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 worth $137,000 after buying an additional 400 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Parker-Hannifin Corporation during the first quarter worth about $160,000. Finally, Independent Portfolio Consultants Inc. increased its stake 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 worth $180,000 after buying an additional 479 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Corporation (NYSE PH) opened at 162.39 on Tuesday. The company has a 50-day moving average price of $162.13 and a 200-day moving average price of $157.33. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50. The stock has a market capitalization of $21.63 billion, a PE ratio of 23.66 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company earned $1.90 earnings per share. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corporation will post $9.06 earnings per share for the current fiscal year.
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PH has been the subject of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and set a $176.00 price target on shares of Parker-Hannifin Corporation in a research note on Thursday, July 6th. BidaskClub upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Sunday, May 28th. Finally, J P Morgan Chase & Co set a $175.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Thursday, May 18th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Parker-Hannifin Corporation currently has an average rating of “Buy” and an average price target of $168.56.
In other Parker-Hannifin Corporation news, VP William R. Bowman sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $158.92, for a total value of $460,868.00. Following the sale, the vice president now directly owns 1,172 shares of the company’s stock, valued at $186,254.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert W. Malone sold 793 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total value of $126,372.48. Following the completion of the sale, the vice president now directly owns 11,549 shares in the company, valued at $1,840,448.64. 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. 2.73% of the stock is owned by corporate insiders.
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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