Sequoia Financial Advisors LLC maintained its position in shares of Parker-Hannifin Corp. (NYSE:PH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,289 shares of the company’s stock at the end of the second quarter. Sequoia Financial Advisors LLC’s holdings in Parker-Hannifin Corp. were worth $788,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PH. Teachers Advisors Inc. increased its position in Parker-Hannifin Corp. by 13.5% in the first quarter. Teachers Advisors Inc. now owns 165,643 shares of the company’s stock worth $18,400,000 after buying an additional 19,717 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Parker-Hannifin Corp. by 0.8% in the first quarter. Prudential Financial Inc. now owns 172,245 shares of the company’s stock worth $19,133,000 after buying an additional 1,370 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Parker-Hannifin Corp. by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 490,108 shares of the company’s stock worth $54,442,000 after buying an additional 18,696 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Parker-Hannifin Corp. during the first quarter worth $101,000. Finally, M&T Bank Corp boosted its stake in shares of Parker-Hannifin Corp. by 57.2% in the first quarter. M&T Bank Corp now owns 22,283 shares of the company’s stock worth $2,475,000 after buying an additional 8,112 shares during the last quarter. 80.85% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Corp. (NYSE:PH) traded down 0.12% during trading on Monday, reaching $124.39. The company’s stock had a trading volume of 739,904 shares. The company has a market cap of $16.66 billion, a P/E ratio of 21.12 and a beta of 1.49. Parker-Hannifin Corp. has a 52 week low of $83.32 and a 52 week high of $128.24. The company’s 50 day moving average price is $123.42 and its 200 day moving average price is $116.19.
Parker-Hannifin Corp. (NYSE:PH) last announced its earnings results on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. The firm earned $2.96 billion during the quarter, compared to analyst estimates of $2.93 billion. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS. On average, equities analysts anticipate that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
PH has been the topic of a number of research reports. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Tuesday, June 21st. KeyCorp reiterated a “buy” rating and set a $136.00 price target on shares of Parker-Hannifin Corp. in a research report on Thursday, September 8th. Credit Suisse Group AG restated a “buy” rating and issued a $131.00 target price on shares of Parker-Hannifin Corp. in a research report on Friday, August 5th. Stifel Nicolaus upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Barclays PLC lifted their price target on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.88.
In other news, VP Martin C. Maxwell sold 893 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $120.62, for a total transaction of $107,713.66. Following the completion of the transaction, the vice president now directly owns 39,451 shares in the company, valued at approximately $4,758,579.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. 2.73% of the stock is currently owned by corporate insiders.
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.