Parker-Hannifin Corp (PH) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. lessened its holdings in Parker-Hannifin Corp (NYSE:PH) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,049 shares of the industrial products company’s stock after selling 5,601 shares during the period. Parker-Hannifin accounts for 2.7% of Contravisory Investment Management Inc.’s holdings, making the stock its 4th biggest position. Contravisory Investment Management Inc.’s holdings in Parker-Hannifin were worth $7,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. increased its position in Parker-Hannifin by 9.3% during the 2nd quarter. Franklin Resources Inc. now owns 9,973 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 848 shares during the period. Stephens Inc. AR increased its position in Parker-Hannifin by 25.4% during the 2nd quarter. Stephens Inc. AR now owns 3,175 shares of the industrial products company’s stock worth $507,000 after buying an additional 643 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in Parker-Hannifin during the 2nd quarter worth $282,000. BT Investment Management Ltd bought a new position in Parker-Hannifin during the 2nd quarter worth $124,000. Finally, Stevens Capital Management LP bought a new position in Parker-Hannifin during the 2nd quarter worth $2,647,000. Institutional investors and hedge funds own 78.05% of the company’s stock.

In other news, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the sale, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert W. Bond sold 5,517 shares of Parker-Hannifin stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the sale, the vice president now directly owns 28,265 shares in the company, valued at $5,136,315.80. The disclosure for this sale can be found here. Insiders sold 22,495 shares of company stock worth $4,127,941 over the last ninety days. 1.12% of the stock is currently owned by insiders.

A number of research analysts recently commented on PH shares. Morgan Stanley cut Parker-Hannifin from an “overweight” rating to an “equal weight” rating and set a $188.00 price target on the stock. in a research report on Monday, October 2nd. Stifel Nicolaus restated a “buy” rating and issued a $245.00 price target (up previously from $218.00) on shares of Parker-Hannifin in a research report on Tuesday. Zacks Investment Research cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Buckingham Research raised their price target on Parker-Hannifin from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $198.21.

Parker-Hannifin Corp (NYSE:PH) traded down $0.26 during trading hours on Thursday, reaching $210.54. The company had a trading volume of 859,660 shares, compared to its average volume of 880,958. The firm has a market capitalization of $28,050.00, a price-to-earnings ratio of 27.03, a PEG ratio of 1.88 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corp has a fifty-two week low of $141.06 and a fifty-two week high of $212.80.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. Parker-Hannifin’s revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. sell-side analysts anticipate that Parker-Hannifin Corp will post 9.61 EPS for the current fiscal year.

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Parker-Hannifin Company Profile

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.

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

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