Stevens Capital Management LP increased its position in Parker-Hannifin Corp (NYSE:PH) by 18.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 41,229 shares of the industrial products company’s stock after purchasing an additional 6,540 shares during the period. Stevens Capital Management LP’s holdings in Parker-Hannifin were worth $7,009,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Ibex Wealth Advisors purchased a new stake in Parker-Hannifin during the second quarter valued at approximately $27,000. Trustcore Financial Services LLC purchased a new stake in Parker-Hannifin during the first quarter valued at approximately $34,000. Gemmer Asset Management LLC raised its position in Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 125 shares during the period. HMS Capital Management LLC purchased a new stake in Parker-Hannifin during the second quarter valued at approximately $36,000. Finally, Destination Wealth Management raised its position in Parker-Hannifin by 254.3% during the second quarter. Destination Wealth Management now owns 248 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 178 shares during the period. Institutional investors own 79.78% of the company’s stock.
In other news, VP Robert W. Malone sold 336 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total transaction of $52,671.36. Following the transaction, the vice president now owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.12% of the company’s stock.
A number of brokerages have issued reports on PH. Bank of America downgraded Parker-Hannifin from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $164.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Citigroup upped their price objective on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. Morgan Stanley upped their price objective on Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded Parker-Hannifin from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $186.00 to $169.00 in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Parker-Hannifin presently has a consensus rating of “Hold” and a consensus price target of $176.50.
Shares of PH traded down $5.59 during mid-day trading on Wednesday, reaching $160.05. 16,944 shares of the company’s stock traded hands, compared to its average volume of 910,503. The stock has a market capitalization of $21.10 billion, a PE ratio of 13.49, a P/E/G ratio of 1.51 and a beta of 1.53. The firm’s 50-day moving average is $169.05. Parker-Hannifin Corp has a 12 month low of $140.82 and a 12 month high of $193.19. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.90 and a current ratio of 2.43.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.22. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.22 earnings per share. As a group, equities research analysts forecast that Parker-Hannifin Corp will post 11.96 EPS for the current year.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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