Gabelli Funds LLC trimmed its position in shares of Parker-Hannifin Corp (NYSE:PH) by 51.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,000 shares of the industrial products company’s stock after selling 16,900 shares during the quarter. Gabelli Funds LLC’s holdings in Parker-Hannifin were worth $2,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PH. NumerixS Investment Technologies Inc boosted its position in shares of Parker-Hannifin by 430.4% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,100 shares of the industrial products company’s stock worth $944,000 after purchasing an additional 4,950 shares in the last quarter. Hartford Financial Management Inc. boosted its position in shares of Parker-Hannifin by 50,000.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 10,020 shares of the industrial products company’s stock worth $1,562,000 after purchasing an additional 10,000 shares in the last quarter. Investec Asset Management North America Inc. boosted its position in shares of Parker-Hannifin by 22.9% in the 2nd quarter. Investec Asset Management North America Inc. now owns 14,399 shares of the industrial products company’s stock worth $2,244,000 after purchasing an additional 2,683 shares in the last quarter. Investec Asset Management LTD boosted its position in shares of Parker-Hannifin by 40.8% in the 2nd quarter. Investec Asset Management LTD now owns 824,658 shares of the industrial products company’s stock worth $128,523,000 after purchasing an additional 238,927 shares in the last quarter. Finally, Investec Asset Management PTY Ltd bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $3,413,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE PH opened at $177.72 on Friday. Parker-Hannifin Corp has a twelve month low of $152.47 and a twelve month high of $212.80. The company has a market capitalization of $23.54 billion, a P/E ratio of 17.06, a PEG ratio of 1.39 and a beta of 1.44. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.74.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.31. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.83 billion. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 EPS. sell-side analysts expect that Parker-Hannifin Corp will post 11.37 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.71%. Parker-Hannifin’s dividend payout ratio is presently 29.17%.

PH has been the topic of a number of analyst reports. Goldman Sachs Group cut Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price target on the stock. in a research report on Monday, July 16th. Zacks Investment Research cut Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Wells Fargo & Co cut Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $200.00 price target on the stock. in a research report on Wednesday, June 20th. Argus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a research report on Tuesday, August 14th. Finally, Barclays initiated coverage on Parker-Hannifin in a research report on Thursday. They issued an “overweight” rating and a $200.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Parker-Hannifin presently has a consensus rating of “Hold” and an average target price of $188.78.

In other Parker-Hannifin news, VP Joseph R. Leonti sold 1,605 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the sale, the vice president now directly owns 15,731 shares in the company, valued at approximately $2,777,465.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP William R. Bowman sold 2,400 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total transaction of $420,864.00. Following the sale, the vice president now owns 1,325 shares of the company’s stock, valued at $232,352. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Parker-Hannifin Profile

Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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