Smith Asset Management Group LP increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,892 shares of the industrial products company’s stock after buying an additional 7,616 shares during the period. Smith Asset Management Group LP’s holdings in Parker-Hannifin Corporation were worth $31,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC increased its position in Parker-Hannifin Corporation by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 3,043 shares of the industrial products company’s stock worth $488,000 after buying an additional 10 shares during the last quarter. 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 worth $131,000 after buying an additional 37 shares during the last quarter. Rehmann Capital Advisory Group increased its position in Parker-Hannifin Corporation by 2.1% in the first quarter. Rehmann Capital Advisory Group now owns 1,821 shares of the industrial products company’s stock worth $292,000 after buying an additional 37 shares during the last quarter. Warren Averett Asset Management LLC increased its position in Parker-Hannifin Corporation by 1.7% in the second quarter. Warren Averett Asset Management LLC now owns 2,398 shares of the industrial products company’s stock worth $383,000 after buying an additional 40 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Parker-Hannifin Corporation by 1.3% in the first quarter. Wetherby Asset Management Inc. now owns 3,457 shares of the industrial products company’s stock worth $554,000 after buying an additional 43 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 155.76 on Friday. The stock has a 50 day moving average of $162.45 and a 200 day moving average of $157.96. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 21.48 and a beta of 1.40. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50.

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 (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during 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%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.06 EPS for the current year.

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A number of research firms recently issued reports on PH. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Credit Suisse Group set a $189.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, May 28th. Barclays PLC set a $162.00 target price on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Sunday, April 30th. Finally, BidaskClub downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $168.69.

In other news, VP Martin C. Maxwell sold 2,850 shares of Parker-Hannifin Corporation stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the transaction, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the completion of the transaction, the vice president now directly owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. 2.73% of the stock is owned by 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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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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