Ameritas Investment Partners Inc. Boosts Position in Parker-Hannifin Corporation (PH)
Ameritas Investment Partners Inc. increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,365 shares of the industrial products company’s stock after buying an additional 946 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Parker-Hannifin Corporation were worth $3,733,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PH. IHT Wealth Management LLC raised its stake in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares during the last quarter. Israel Discount Bank of New York raised its stake in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Parker-Hannifin Corporation in the first quarter worth approximately $112,000. Finally, BT Investment Management Ltd purchased a new stake in shares of Parker-Hannifin Corporation in the second quarter worth approximately $124,000. 79.72% of the stock is currently owned by institutional investors and hedge funds.
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In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,389 shares of company stock valued at $878,913. 1.12% of the stock is owned by company insiders.
Shares of Parker-Hannifin Corporation (PH) traded up 0.11% during mid-day trading on Wednesday, hitting $177.69. The company had a trading volume of 188,620 shares. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $178.50. The firm has a 50-day moving average price of $168.74 and a 200-day moving average price of $162.03. The firm has a market capitalization of $23.67 billion, a PE ratio of 24.51 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.52 billion. During the same period in the previous year, the business earned $1.90 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Corporation will post $9.10 earnings per share for the current year.
PH has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 price objective on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research note on Tuesday. Finally, Morgan Stanley downgraded Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective for the company. in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $177.18.
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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