Lowe Brockenbrough & Co. Inc. reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,003 shares of the industrial products company’s stock after selling 200 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Parker-Hannifin Corporation were worth $1,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC boosted its position in Parker-Hannifin Corporation by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 3,043 shares of the industrial products company’s stock worth $488,000 after buying an additional 10 shares in the last quarter. Quadrant Capital Group LLC boosted 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 in the last quarter. Rehmann Capital Advisory Group boosted its position in Parker-Hannifin Corporation by 2.1% in the first quarter. Rehmann Capital Advisory Group now owns 1,821 shares of the industrial products company’s stock worth $292,000 after buying an additional 37 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in Parker-Hannifin Corporation by 1.3% in the first quarter. Wetherby Asset Management Inc. now owns 3,457 shares of the industrial products company’s stock worth $554,000 after buying an additional 43 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its position in Parker-Hannifin Corporation by 0.4% in the first quarter. Marble Harbor Investment Counsel LLC now owns 11,503 shares of the industrial products company’s stock worth $1,844,000 after buying an additional 50 shares in the last quarter. 80.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.13% during midday trading on Friday, reaching $165.06. 676,518 shares of the company traded hands. Parker-Hannifin Corporation has a 1-year low of $111.36 and a 1-year high of $166.60. The company has a 50 day moving average price of $157.84 and a 200 day moving average price of $153.79. The company has a market capitalization of $21.98 billion, a PE ratio of 25.91 and a beta of 1.40.

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 consensus estimate of $1.86 by $0.25. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate 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 revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 EPS. On average, analysts expect that Parker-Hannifin Corporation will post $7.92 earnings per share for the current year.

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A number of research analysts recently commented on PH shares. J P Morgan Chase & Co set a $175.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Thursday, May 18th. Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Friday, April 7th. Credit Suisse Group set a $169.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Wednesday, April 12th. Jefferies Group LLC restated a “sell” rating on shares of Parker-Hannifin Corporation in a research report on Friday, April 14th. Finally, Barclays PLC restated an “equal weight” rating and set a $148.00 price target (down from $158.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, April 19th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Parker-Hannifin Corporation has a consensus rating of “Buy” and a consensus price target of $165.18.

In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the transaction, the vice president now directly owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert W. Malone sold 793 shares of Parker-Hannifin Corporation stock in a transaction 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 completion of the transaction, the vice president now directly owns 11,549 shares in the company, valued at $1,840,448.64. The disclosure for this sale can be found here. Insiders have sold a total of 21,563 shares of company stock valued at $3,471,380 in the last 90 days. Insiders own 2.73% of the company’s stock.

Parker-Hannifin Corporation 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 Corporation (NYSE:PH)

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