Ingalls & Snyder LLC trimmed its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,501 shares of the industrial products company’s stock after selling 268 shares during the quarter. Ingalls & Snyder LLC’s holdings in Parker-Hannifin were worth $1,750,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Capital Group LLC lifted its holdings in Parker-Hannifin by 126.3% during the second quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 96 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new position in Parker-Hannifin during the third quarter valued at $32,000. Hoey Investments Inc. purchased a new position in Parker-Hannifin during the fourth quarter valued at $36,000. CWM LLC lifted its holdings in Parker-Hannifin by 34.4% during the third quarter. CWM LLC now owns 293 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 75 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. purchased a new position in Parker-Hannifin during the third quarter valued at $54,000. 80.19% of the stock is currently owned by institutional investors and hedge funds.
In other Parker-Hannifin news, VP Andrew M. Weeks sold 3,750 shares of Parker-Hannifin stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.38, for a total transaction of $751,425.00. Also, EVP Mark J. Hart sold 917 shares of Parker-Hannifin stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $190.31, for a total transaction of $174,514.27. Following the sale, the executive vice president now owns 14,719 shares of the company’s stock, valued at $2,801,172.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,427 shares of company stock valued at $2,263,771. 1.23% of the stock is owned by company insiders.
Several equities analysts have issued reports on PH shares. Gordon Haskett raised shares of Parker-Hannifin from an “underperform” rating to a “hold” rating in a report on Monday, November 4th. Stifel Nicolaus raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and increased their price objective for the company from $199.00 to $229.00 in a report on Tuesday, December 17th. Morgan Stanley increased their price objective on shares of Parker-Hannifin from $193.00 to $209.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Goldman Sachs Group raised shares of Parker-Hannifin from a “sell” rating to a “buy” rating and increased their price objective for the company from $180.00 to $230.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $203.46.
Parker-Hannifin stock opened at $205.34 on Thursday. Parker-Hannifin Corp has a 12-month low of $152.18 and a 12-month high of $212.05. The stock has a market cap of $26.56 billion, a P/E ratio of 17.33, a PEG ratio of 2.10 and a beta of 1.57. The company has a 50-day moving average price of $204.82 and a 200 day moving average price of $183.76. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 1.21.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.12. Parker-Hannifin had a net margin of 10.41% and a return on equity of 25.74%. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the business earned $2.84 earnings per share. Parker-Hannifin’s revenue was down 4.2% compared to the same quarter last year. As a group, analysts forecast that Parker-Hannifin Corp will post 10.76 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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