Axa grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,355 shares of the industrial products company’s stock after buying an additional 1,439 shares during the quarter. Axa owned 0.08% of Parker-Hannifin Corporation worth $16,998,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in shares of Parker-Hannifin Corporation in the 1st quarter valued at about $785,000. Stifel Financial Corp lifted its holdings in shares of Parker-Hannifin Corporation by 2.8% in the 1st 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 during the period. Bank of Nova Scotia lifted its holdings in shares of Parker-Hannifin Corporation by 943.9% in the 1st 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 during the period. Boston Common Asset Management LLC lifted its holdings in shares of Parker-Hannifin Corporation by 4.7% in the 1st quarter. Boston Common Asset Management LLC now owns 3,255 shares of the industrial products company’s stock valued at $522,000 after buying an additional 145 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Parker-Hannifin Corporation by 3.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 437,369 shares of the industrial products company’s stock valued at $70,119,000 after buying an additional 16,479 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.

In related news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Candy M. Obourn sold 1,241 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The disclosure for this sale can be found here. Insiders have sold a total of 2,749 shares of company stock valued at $441,544 over the last 90 days. Insiders own 2.73% of the company’s stock.

PH has been the subject of a number of analyst reports. Wolfe Research initiated coverage on Parker-Hannifin Corporation in a report 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 report on Sunday, May 28th. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Robert W. Baird set a $163.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $172.06.

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Shares of Parker-Hannifin Corporation (PH) opened at 161.33 on Monday. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 22.25 and a beta of 1.41. The firm’s 50-day moving average price is $160.69 and its 200 day moving average price is $159.26.

Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were given a dividend of $0.66 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.64%. Parker-Hannifin Corporation’s dividend payout ratio is currently 36.51%.

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.

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

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