Candriam Luxembourg S.C.A. Has $16.59 Million Position in Parker-Hannifin Corporation (NYSE:PH)

Candriam Luxembourg S.C.A. increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 54.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,778 shares of the industrial products company’s stock after buying an additional 36,473 shares during the period. Candriam Luxembourg S.C.A. owned 0.08% of Parker-Hannifin Corporation worth $16,587,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares during the last quarter. FMR LLC raised its stake in shares of Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock worth $281,346,000 after buying an additional 1,615,987 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter worth about $81,629,000. Longview Partners Guernsey LTD raised its stake in shares of Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock worth $820,669,000 after buying an additional 362,076 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Parker-Hannifin Corporation by 8.1% in the first quarter. Jennison Associates LLC now owns 4,673,164 shares of the industrial products company’s stock worth $749,202,000 after buying an additional 349,010 shares in the last quarter. 79.78% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Corporation (NYSE:PH) opened at 165.32 on Friday. The stock has a 50 day moving average price of $162.13 and a 200-day moving average price of $157.33. Parker-Hannifin Corporation has a one year low of $112.40 and a one year high of $167.50. The stock has a market capitalization of $22.02 billion, a P/E ratio of 24.09 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.14% and a net margin of 8.11%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Corporation will post $9.05 earnings per share for the current year.

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A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Friday. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and set a $163.00 price target on shares of Parker-Hannifin Corporation in a research note on Thursday. Wolfe Research assumed coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price target for the company. Finally, Zacks Investment Research raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Monday, April 10th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $165.71.

In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now directly owns 21,753 shares in the company, valued at $3,501,797.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the sale, the vice president now owns 21,968 shares in the company, valued at $3,516,637.44. The disclosure for this sale can be found here. Insiders have sold 9,073 shares of company stock worth $1,450,748 over the last 90 days. 2.73% of the stock is owned by insiders.

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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