Oakbrook Investments LLC lifted its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 32.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,920 shares of the industrial products company’s stock after purchasing an additional 3,400 shares during the quarter. Oakbrook Investments LLC’s holdings in Parker-Hannifin were worth $2,560,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Vulcan Value Partners LLC lifted its stake in Parker-Hannifin by 97.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock worth $495,321,000 after acquiring an additional 1,569,099 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Parker-Hannifin by 27.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock worth $396,154,000 after acquiring an additional 548,399 shares in the last quarter. Northern Trust Corp lifted its stake in Parker-Hannifin by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock worth $256,588,000 after acquiring an additional 16,377 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Parker-Hannifin by 5.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,612,883 shares of the industrial products company’s stock worth $251,368,000 after acquiring an additional 77,837 shares in the last quarter. Finally, Boston Partners lifted its stake in Parker-Hannifin by 20.2% during the 2nd quarter. Boston Partners now owns 1,523,254 shares of the industrial products company’s stock worth $237,399,000 after acquiring an additional 256,495 shares in the last quarter. Institutional investors and hedge funds own 79.32% of the company’s stock.
In other news, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the transaction, the vice president now owns 15,731 shares in the company, valued at approximately $2,777,465.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William R. Bowman sold 2,400 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the transaction, the vice president now owns 1,325 shares in the company, valued at approximately $232,352. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
Several equities analysts recently issued reports on PH shares. Cowen reissued a “hold” rating and set a $165.00 target price on shares of Parker-Hannifin in a research note on Friday, July 20th. Goldman Sachs Group lowered Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 target price on the stock. in a research note on Monday, July 16th. Morgan Stanley started coverage on Parker-Hannifin in a research report on Monday, August 20th. They issued an “equal weight” rating and a $185.00 price target on the stock. Wolfe Research started coverage on Parker-Hannifin in a research report on Wednesday, June 27th. They issued a “market perform” rating on the stock. Finally, Evercore ISI raised Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research report on Monday, August 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $187.17.
PH stock opened at $159.33 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 1.26 and a beta of 1.41. Parker-Hannifin Corp has a 1 year low of $152.47 and a 1 year high of $212.80.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.31. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business posted $2.45 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Corp will post 11.41 EPS for the current fiscal year.
Parker-Hannifin Company Profile
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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