Bp Plc Maintains Stake in Parker-Hannifin Corporation (PH)
Bp Plc continued to hold its position in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, Holdings Channel reports. The institutional investor owned 17,000 shares of the industrial products company’s stock at the end of the second quarter. Bp Plc’s holdings in Parker-Hannifin Corporation were worth $2,718,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Harbour Capital Advisors LLC bought a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $112,000. Quadrant Capital Group LLC boosted its stake in shares of 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 last quarter. TrimTabs Asset Management LLC boosted its stake in shares of 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 last quarter. FNY Partners Fund LP bought a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $160,000. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of 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 last quarter. 80.17% of the stock is owned by institutional investors.
Parker-Hannifin Corporation (NYSE:PH) opened at 161.02 on Thursday. The company has a market capitalization of $21.45 billion, a PE ratio of 23.46 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50. The firm’s 50 day moving average price is $162.51 and its 200-day moving average price is $157.98.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 return on equity of 22.90% and a net margin of 8.18%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. On average, equities analysts anticipate that Parker-Hannifin Corporation will post $9.05 earnings per share for the current fiscal year.
Several brokerages recently commented on PH. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, May 28th. Barclays PLC set a $162.00 target price on Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Sunday, April 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $189.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. Finally, BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating and sixteen 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 $168.69.
In related news, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the sale, the vice president now directly owns 21,753 shares in the company, valued at $3,501,797.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Martin C. Maxwell sold 2,850 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the sale, the vice president now owns 21,968 shares in the company, valued at $3,516,637.44. The disclosure for this sale can be found here. 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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