Canada Pension Plan Investment Board raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 23.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,994 shares of the industrial products company’s stock after buying an additional 35,688 shares during the period. Canada Pension Plan Investment Board’s holdings in Parker-Hannifin Corporation were worth $29,566,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in shares of Parker-Hannifin Corporation by 176.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,288 shares of the industrial products company’s stock worth $1,008,000 after buying an additional 4,010 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Parker-Hannifin Corporation by 156.5% in the first quarter. Glen Harbor Capital Management LLC now owns 63,750 shares of the industrial products company’s stock worth $10,220,000 after buying an additional 38,896 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Parker-Hannifin Corporation by 107.6% in the first quarter. ProShare Advisors LLC now owns 25,250 shares of the industrial products company’s stock worth $4,048,000 after buying an additional 13,088 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of 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 in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Parker-Hannifin Corporation by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,558 shares of the industrial products company’s stock worth $533,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Shares of Parker-Hannifin Corporation (PH) opened at 157.02 on Friday. The firm has a market capitalization of $20.93 billion, a PE ratio of 21.66 and a beta of 1.40. The company’s 50-day moving average price is $162.43 and its 200-day moving average price is $158.07. 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 issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post $9.06 EPS for the current year.

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A number of brokerages have commented on PH. Stifel Nicolaus set a $198.00 price objective on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 price objective on shares of Parker-Hannifin Corporation in a research report on Thursday, August 3rd. Wolfe Research began coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price objective for the company. Finally, Zacks Investment Research downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $168.69.

In related news, VP Martin C. Maxwell sold 2,850 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 21,968 shares in the company, valued at $3,516,637.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the business’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 sale, the vice president now owns 21,753 shares of the company’s stock, valued at $3,501,797.94. 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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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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