Cambria Investment Management L.P. lowered its position in shares of Parker-Hannifin Corp (NYSE:PH) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,018 shares of the industrial products company’s stock after selling 480 shares during the quarter. Cambria Investment Management L.P.’s holdings in Parker-Hannifin were worth $1,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PH. Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares during the period. BlackRock Inc. raised its position in shares of Parker-Hannifin by 3.6% during the 2nd quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares during the period. Jennison Associates LLC raised its position in shares of Parker-Hannifin by 28.5% during the 2nd quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after purchasing an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD raised its position in shares of Parker-Hannifin by 5.4% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after purchasing an additional 278,500 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of Parker-Hannifin by 10.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after purchasing an additional 194,858 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.

Shares of Parker-Hannifin Corp (NYSE PH) traded down $1.04 during mid-day trading on Tuesday, reaching $191.94. The company had a trading volume of 667,000 shares, compared to its average volume of 992,169. Parker-Hannifin Corp has a 1-year low of $139.49 and a 1-year high of $193.49. The company has a market cap of $25,709.97, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. sell-side analysts forecast that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s payout ratio is currently 33.93%.

A number of brokerages have recently weighed in on PH. ValuEngine cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Citigroup increased their price target on Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Cowen reiterated a “hold” rating and set a $155.00 price target on shares of Parker-Hannifin in a research report on Sunday, October 29th. Robert W. Baird set a $163.00 price target on Parker-Hannifin and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, Wells Fargo & Company increased their price target on Parker-Hannifin from $181.50 to $196.00 and gave the stock a “market perform” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Parker-Hannifin presently has an average rating of “Buy” and an average price target of $188.95.

In other Parker-Hannifin news, COO Lee C. Banks sold 5,286 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Andrew D. Ross sold 2,056 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the transaction, the vice president now directly owns 5,207 shares of the company’s stock, valued at $1,000,472.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,495 shares of company stock valued at $4,127,941. 1.12% of the stock is currently owned by corporate insiders.

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Parker-Hannifin 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 (NYSE:PH)

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