Fruth Investment Management continued to hold its stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,300 shares of the industrial products company’s stock at the end of the second quarter. Fruth Investment Management’s holdings in Parker-Hannifin Corporation were worth $687,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the first quarter worth approximately $112,000. Quadrant Capital Group LLC increased its position in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock worth $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC increased its position in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares during the period. FNY Partners Fund LP purchased a new position in Parker-Hannifin Corporation during the first quarter worth approximately $160,000. Finally, Independent Portfolio Consultants Inc. increased its position in Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock worth $180,000 after buying an additional 479 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of Parker-Hannifin Corporation (PH) traded down 0.20% during trading on Thursday, hitting $166.43. The stock had a trading volume of 89,052 shares. Parker-Hannifin Corporation has a one year low of $111.36 and a one year high of $167.12. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 24.25 and a beta of 1.40. The stock’s 50-day moving average price is $160.03 and its 200 day moving average price is $155.88.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.25. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Parker-Hannifin Corporation had a net margin of 8.11% and a return on equity of 22.14%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.51 earnings per share. On average, equities analysts forecast that Parker-Hannifin Corporation will post $7.92 EPS for the current year.
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A number of research firms recently commented on PH. Wolfe Research began coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price target for the company. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. BidaskClub upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. BMO Capital Markets reiterated a “buy” rating and issued a $175.00 price target on shares of Parker-Hannifin Corporation in a research note on Thursday, April 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $189.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $165.18.
In other news, VP Robert W. Malone sold 793 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total transaction of $126,372.48. Following the sale, the vice president now directly owns 11,549 shares of the company’s stock, valued at $1,840,448.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Bowman sold 2,900 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $158.92, for a total transaction of $460,868.00. Following the sale, the vice president now directly owns 1,172 shares in the company, valued at $186,254.24. The disclosure for this sale can be found here. Insiders have sold 21,563 shares of company stock worth $3,471,380 over the last ninety days. Insiders own 2.73% of the company’s stock.
About Parker-Hannifin Corporation
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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