Retirement Systems of Alabama boosted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 64,574 shares of the industrial products company’s stock after buying an additional 142 shares during the period. Retirement Systems of Alabama’s holdings in Parker-Hannifin Corporation were worth $10,320,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PH. BlackRock Inc. boosted its stake in shares of Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares during the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after buying an additional 362,076 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Parker-Hannifin Corporation by 8.1% in the first quarter. Jennison Associates LLC now owns 4,673,164 shares of the industrial products company’s stock valued at $749,202,000 after buying an additional 349,010 shares during the last quarter. FMR LLC boosted its stake in shares of Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Parker-Hannifin Corporation by 9.7% in the first quarter. Geode Capital Management LLC now owns 1,353,921 shares of the industrial products company’s stock valued at $216,760,000 after buying an additional 119,228 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 157.02 on Friday. The stock has a market capitalization of $20.93 billion, a PE ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50. The stock has a 50 day moving average of $162.43 and a 200 day moving average of $158.07.

Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 8.18% and a return on equity of 22.90%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 earnings per share. Analysts forecast that Parker-Hannifin Corporation will post $9.06 earnings per share for the current year.

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PH has been the subject of several analyst reports. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Wednesday, June 28th. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and set a $176.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. Finally, J P Morgan Chase & Co set a $175.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Thursday, May 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Parker-Hannifin Corporation has an average rating of “Buy” and a consensus target price of $168.69.

In related news, VP Martin C. Maxwell sold 2,850 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the sale, the vice president now directly owns 21,968 shares of the company’s stock, valued at $3,516,637.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’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 completion of the sale, the vice president now directly owns 21,753 shares of the company’s stock, valued at $3,501,797.94. The disclosure for this sale can be found here. 2.73% of the stock is owned by corporate 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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