Cooke & Bieler LP lowered its stake in Parker-Hannifin Corp. (NYSE:PH) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 914,604 shares of the company’s stock after selling 6,395 shares during the period. Parker-Hannifin Corp. comprises 2.2% of Cooke & Bieler LP’s investment portfolio, making the stock its 12th largest position. Cooke & Bieler LP’s holdings in Parker-Hannifin Corp. were worth $98,823,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. purchased a new position in Parker-Hannifin Corp. during the first quarter valued at approximately $101,000. Checchi Capital Advisers LLC boosted its position in Parker-Hannifin Corp. by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,653 shares of the company’s stock valued at $179,000 after buying an additional 31 shares during the period. Acadian Asset Management LLC purchased a new position in Parker-Hannifin Corp. during the second quarter valued at approximately $222,000. Fox Run Management L.L.C. purchased a new position in Parker-Hannifin Corp. during the second quarter valued at approximately $238,000. Finally, Bayesian Capital Management LP purchased a new position in Parker-Hannifin Corp. during the first quarter valued at approximately $258,000. Institutional investors own 80.85% of the company’s stock.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded down 0.12% during trading on Monday, reaching $124.39. 739,680 shares of the company’s stock were exchanged. The stock has a market capitalization of $16.66 billion, a PE 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 is $123.42 and its 200 day moving average is $116.19.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The business earned $2.96 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $1.73 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, analysts forecast that Parker-Hannifin Corp. will post $6.80 earnings per share for the current year.
Several research analysts have commented on the stock. Goldman Sachs Group Inc. boosted their price target on shares of Parker-Hannifin Corp. from $91.00 to $101.00 and gave the stock a “sell” rating in a report on Friday, August 5th. Barclays PLC upped their target price on shares of Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, August 5th. Avondale Partners restated a “market perform” rating on shares of Parker-Hannifin Corp. in a report on Monday, October 10th. Morgan Stanley set a $108.00 target price on shares of Parker-Hannifin Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Citigroup Inc. upped their target price on shares of Parker-Hannifin Corp. from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $117.88.
In other Parker-Hannifin Corp. news, VP Robert W. Bond sold 14,043 shares of Parker-Hannifin Corp. stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total value of $1,748,493.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lee C. Banks sold 10,953 shares of Parker-Hannifin Corp. stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $124.28, for a total transaction of $1,361,238.84. Following the completion of the transaction, the chief operating officer now directly owns 99,977 shares of the company’s stock, valued at approximately $12,425,141.56. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.
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.
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