Janney Montgomery Scott LLC trimmed its position in shares of Parker-Hannifin Corp (NYSE:PH) by 38.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,899 shares of the industrial products company’s stock after selling 7,505 shares during the period. Janney Montgomery Scott LLC’s holdings in Parker-Hannifin were worth $2,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. APG Asset Management N.V. boosted its stake in Parker-Hannifin by 38.0% during the 1st quarter. APG Asset Management N.V. now owns 187,324 shares of the industrial products company’s stock valued at $24,302,000 after acquiring an additional 51,558 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Parker-Hannifin by 8.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,953 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 151 shares during the last quarter. Manning & Napier Group LLC bought a new position in Parker-Hannifin during the 1st quarter valued at $5,640,000. MML Investors Services LLC boosted its stake in Parker-Hannifin by 17.9% during the 1st quarter. MML Investors Services LLC now owns 2,407 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 365 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Parker-Hannifin by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 2,464 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 386 shares during the last quarter. 78.70% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on PH shares. Jefferies Financial Group raised their price target on shares of Parker-Hannifin from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Credit Suisse Group raised their price target on shares of Parker-Hannifin from $158.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Morgan Stanley restated a “buy” rating and issued a $192.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. TheStreet upgraded shares of Parker-Hannifin from a “c+” rating to a “b-” rating in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $180.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $201.67.

Parker-Hannifin stock opened at $178.92 on Friday. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.62 and a beta of 1.67. The company has a current ratio of 1.49, a quick ratio of 0.94 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average price is $181.86 and its two-hundred day moving average price is $171.86. Parker-Hannifin Corp has a 52 week low of $93.00 and a 52 week high of $215.94.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, April 30th. The industrial products company reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.68. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Parker-Hannifin had a net margin of 9.32% and a return on equity of 24.30%. Parker-Hannifin’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $3.17 EPS. Research analysts expect that Parker-Hannifin Corp will post 9.74 earnings per share for the current fiscal year.

In other Parker-Hannifin news, CFO Catherine A. Suever sold 1,862 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $204.60, for a total transaction of $380,965.20. Following the transaction, the chief financial officer now owns 37,845 shares of the company’s stock, valued at approximately $7,743,087. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Andrew D. Ross sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $205.18, for a total transaction of $1,025,900.00. Following the transaction, the vice president now directly owns 14,091 shares in the company, valued at approximately $2,891,191.38. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by company insiders.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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

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