Bp Plc held its position in Parker-Hannifin Corp. (NYSE:PH) during the second quarter, Holdings Channel reports. The institutional investor owned 17,000 shares of the company’s stock at the end of the second quarter. Bp Plc’s holdings in Parker-Hannifin Corp. were worth $1,836,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. NN Investment Partners Holdings N.V. acquired a new stake in Parker-Hannifin Corp. during the first quarter worth approximately $101,000. Checchi Capital Advisers LLC raised its stake in Parker-Hannifin Corp. by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,653 shares of the company’s stock worth $179,000 after buying an additional 31 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Parker-Hannifin Corp. during the second quarter worth approximately $222,000. Fox Run Management L.L.C. acquired a new stake in Parker-Hannifin Corp. during the second quarter worth approximately $238,000. Finally, Bayesian Capital Management LP acquired a new stake in Parker-Hannifin Corp. during the first quarter worth approximately $258,000. 80.85% of the stock is owned by institutional investors.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded down 0.12% during midday trading on Monday, hitting $124.39. The stock had a trading volume of 739,904 shares. The firm has a 50 day moving average price of $123.42 and a 200-day moving average price of $116.19. Parker-Hannifin Corp. has a 52-week low of $83.32 and a 52-week high of $128.24. The stock has a market cap of $16.66 billion, a PE ratio of 21.12 and a beta of 1.49.
Parker-Hannifin Corp. (NYSE:PH) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Corp. will post $6.80 EPS for the current fiscal year.
PH has been the subject of a number of research analyst reports. Wells Fargo & Co. raised Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a report on Thursday, June 30th. JPMorgan Chase & Co. lowered Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $110.00 to $98.00 in a report on Monday, June 27th. Jefferies Group reissued a “hold” rating on shares of Parker-Hannifin Corp. in a report on Monday, September 12th. Stifel Nicolaus upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $131.00 to $141.00 in a research note on Wednesday, October 5th. Finally, Zacks Investment Research downgraded Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $117.88.
In other news, VP Robert W. Bond sold 14,043 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $124.51, for a total transaction of $1,748,493.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Catherine A. Suever sold 1,019 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $123.29, for a total transaction of $125,632.51. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.
About Parker-Hannifin Corp.
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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