Conning Inc. cut its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,319 shares of the industrial products company’s stock after selling 114 shares during the period. Conning Inc.’s holdings in Parker-Hannifin Corporation were worth $1,489,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PH. Two Sigma Securities LLC purchased a new position in Parker-Hannifin Corporation during the first quarter valued at about $785,000. Pillar Pacific Capital Management LLC raised its position in Parker-Hannifin Corporation by 3.8% in the first quarter. Pillar Pacific Capital Management LLC now owns 26,890 shares of the industrial products company’s stock valued at $4,311,000 after buying an additional 980 shares in the last quarter. Stifel Financial Corp raised its position in Parker-Hannifin Corporation by 2.8% in the first quarter. Stifel Financial Corp now owns 353,400 shares of the industrial products company’s stock valued at $56,657,000 after buying an additional 9,777 shares in the last quarter. Bank of Nova Scotia raised its position in Parker-Hannifin Corporation by 943.9% in the first quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock valued at $4,896,000 after buying an additional 27,610 shares in the last quarter. Finally, Markel Corp increased its stake in Parker-Hannifin Corporation by 15.7% in the first quarter. Markel Corp now owns 95,600 shares of the industrial products company’s stock valued at $15,327,000 after buying an additional 13,000 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Corporation (NYSE:PH) opened at 158.26 on Tuesday. The firm has a 50 day moving average of $162.40 and a 200-day moving average of $158.29. The firm has a market cap of $21.09 billion, a P/E ratio of 21.83 and a beta of 1.40. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $167.50.

Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the business earned $1.90 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Corporation will post $9.06 earnings per share for the current year.

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Several equities research analysts have recently commented on PH shares. J P Morgan Chase & Co set a $175.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Thursday, May 18th. Barclays PLC reiterated an “equal weight” rating and set a $148.00 price objective (down from $158.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday, April 19th. BMO Capital Markets reiterated a “buy” rating and set a $175.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, April 20th. BidaskClub downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC set a $163.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $168.69.

In related news, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the completion of the sale, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Martin C. Maxwell sold 2,850 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total transaction of $456,228.00. Following the completion of the sale, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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