Cigna Investments Inc. New lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,310 shares of the industrial products company’s stock after selling 200 shares during the period. Cigna Investments Inc. New’s holdings in Parker-Hannifin Corporation were worth $849,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the first quarter worth approximately $112,000. Quadrant Capital Group LLC boosted 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 in the last quarter. TrimTabs Asset Management LLC boosted 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 worth $137,000 after buying an additional 400 shares in the last quarter. FNY Partners Fund LP purchased a new position in Parker-Hannifin Corporation during the first quarter worth approximately $160,000. Finally, Independent Portfolio Consultants Inc. boosted 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 worth $180,000 after buying an additional 479 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 157.02 on Friday. The stock has a 50 day moving average of $162.43 and a 200 day moving average of $158.07. The stock has a market cap of $20.93 billion, a PE ratio of 21.66 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.

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

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A number of equities analysts recently commented on PH shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. ValuEngine raised 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 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, May 28th. Finally, J P Morgan Chase & Co set a $175.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $168.69.

In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were 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 owns 21,753 shares of the company’s stock, valued at $3,501,797.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Martin C. Maxwell sold 2,850 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total transaction of $456,228.00. Following the completion of the transaction, the vice president now directly owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is 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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