Parker-Hannifin Corporation (PH) Shares Sold by QS Investors LLC
QS Investors LLC reduced its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 58.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,620 shares of the industrial products company’s stock after selling 14,796 shares during the quarter. QS Investors LLC’s holdings in Parker-Hannifin Corporation were worth $1,697,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in PH. Israel Discount Bank of New York grew its position in Parker-Hannifin Corporation by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares during the last quarter. Parallel Advisors LLC grew its position in Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the 1st quarter worth $112,000. BT Investment Management Ltd purchased a new position in Parker-Hannifin Corporation during the 2nd quarter worth $124,000. Finally, FNY Partners Fund LP purchased a new position in Parker-Hannifin Corporation during the 1st quarter worth $160,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.
PH has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $189.00 price objective on shares of Parker-Hannifin Corporation in a research report 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. Morgan Stanley downgraded shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective on the stock. in a research report on Monday, October 2nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $165.00 price objective (up from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $175.88.
Parker-Hannifin Corporation (NYSE PH) opened at 177.33 on Tuesday. The firm has a 50 day moving average of $168.10 and a 200 day moving average of $161.88. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $178.39. The firm has a market capitalization of $23.61 billion, a PE ratio of 24.46 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The company 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%. The company’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 earned $1.90 EPS. Equities analysts forecast that Parker-Hannifin Corporation will post $9.09 EPS for the current year.
In other news, VP Martin C. Maxwell sold 2,640 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total transaction of $437,368.80. Following the completion of the transaction, the vice president now directly owns 31,718 shares in the company, valued at approximately $5,254,721.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Candy M. Obourn sold 1,241 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The disclosure for this sale can be found here. Insiders have sold a total of 5,389 shares of company stock valued at $878,913 over the last 90 days. Corporate insiders own 1.12% 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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