Federated Investors Inc. PA cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 83.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,343 shares of the industrial products company’s stock after selling 172,914 shares during the period. Federated Investors Inc. PA’s holdings in Parker-Hannifin Corporation were worth $5,330,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PH. Moody Lynn & Lieberson LLC boosted its stake 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 valued at $488,000 after buying an additional 10 shares during the period. Warren Averett Asset Management LLC boosted its stake in Parker-Hannifin Corporation by 1.7% in the second quarter. Warren Averett Asset Management LLC now owns 2,398 shares of the industrial products company’s stock valued at $383,000 after buying an additional 40 shares during the period. Wetherby Asset Management Inc. boosted its stake in Parker-Hannifin Corporation by 1.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,501 shares of the industrial products company’s stock valued at $559,000 after buying an additional 44 shares during the period. Marble Harbor Investment Counsel LLC boosted its stake 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 valued at $1,844,000 after buying an additional 50 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Parker-Hannifin Corporation by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,291 shares of the industrial products company’s stock valued at $207,000 after buying an additional 62 shares during the period. Institutional investors own 80.21% of the company’s stock.

Parker-Hannifin Corporation (PH) opened at 162.83 on Friday. The company’s 50-day moving average price is $161.47 and its 200 day moving average price is $159.10. The firm has a market capitalization of $21.68 billion, a price-to-earnings ratio of 22.46 and a beta of 1.41. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post $9.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Monday, August 28th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is currently 36.51%.

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A number of analysts have recently issued reports on PH shares. BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Sunday, May 28th. Finally, Jefferies Group LLC set a $163.00 target price on Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $172.06.

In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark J. Hart sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $160.72, for a total value of $96,432.00. Following the completion of the sale, the executive vice president now owns 5,851 shares of the company’s stock, valued at approximately $940,372.72. The disclosure for this sale can be found here. Company 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.

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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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