Gifford Fong Associates bought a new position in Parker-Hannifin Corp (NYSE:PH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,500 shares of the industrial products company’s stock, valued at approximately $390,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vulcan Value Partners LLC boosted its position in shares of Parker-Hannifin by 97.5% in the second quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock worth $495,321,000 after acquiring an additional 1,569,099 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Parker-Hannifin by 27.5% in the second quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock worth $396,154,000 after acquiring an additional 548,399 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Parker-Hannifin by 5.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,612,883 shares of the industrial products company’s stock worth $251,368,000 after acquiring an additional 77,837 shares during the last quarter. Boston Partners boosted its position in shares of Parker-Hannifin by 20.2% in the second quarter. Boston Partners now owns 1,523,254 shares of the industrial products company’s stock worth $237,399,000 after acquiring an additional 256,495 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Parker-Hannifin in the second quarter worth approximately $214,250,000. 80.62% of the stock is currently owned by institutional investors and hedge funds.

PH opened at $187.15 on Monday. The company has a market cap of $24.27 billion, a PE ratio of 17.96, a PEG ratio of 1.43 and a beta of 1.44. Parker-Hannifin Corp has a 52-week low of $152.47 and a 52-week high of $212.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.31. The company had revenue of $3.82 billion for 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 business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.45 earnings per share. equities research analysts predict that Parker-Hannifin Corp will post 11.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.62%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.

PH has been the topic of a number of recent research reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Tuesday, May 29th. ValuEngine cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. Wolfe Research initiated coverage on shares of Parker-Hannifin in a research report on Wednesday, June 27th. They set a “market perform” rating on the stock. Zacks Investment Research cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $200.00 price target (down from $225.00) on shares of Parker-Hannifin in a research report on Friday, July 6th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $188.78.

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

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.

Further Reading: Asset Allocation and Your Retirement

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corp (NYSE:PH).

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

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.