Huntington National Bank reduced its position in shares of Parker-Hannifin Corp (NYSE:PH) by 2.6% during the first quarter, Holdings Channel reports. The institutional investor owned 53,009 shares of the industrial products company’s stock after selling 1,388 shares during the period. Huntington National Bank’s holdings in Parker-Hannifin Corp were worth $8,498,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Parkwood LLC acquired a new position in Parker-Hannifin Corp during the third quarter worth approximately $280,000. Wagner Bowman Management Corp boosted its position in Parker-Hannifin Corp by 10.8% in the third quarter. Wagner Bowman Management Corp now owns 2,303 shares of the industrial products company’s stock worth $289,000 after buying an additional 225 shares in the last quarter. Albert D Mason Inc. boosted its position in Parker-Hannifin Corp by 71.8% in the third quarter. Albert D Mason Inc. now owns 30,276 shares of the industrial products company’s stock worth $3,801,000 after buying an additional 12,658 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new position in Parker-Hannifin Corp during the third quarter worth approximately $383,000. Finally, Rehmann Capital Advisory Group acquired a new position in Parker-Hannifin Corp during the third quarter worth approximately $224,000. Hedge funds and other institutional investors own 82.72% of the company’s stock.
Parker-Hannifin Corp (NYSE:PH) traded up 1.45% during mid-day trading on Thursday, hitting $157.07. The stock had a trading volume of 1,011,246 shares. Parker-Hannifin Corp has a one year low of $99.10 and a one year high of $163.14. The company has a 50 day moving average price of $157.99 and a 200-day moving average price of $143.70. The company has a market cap of $20.94 billion, a price-to-earnings ratio of 24.23 and a beta of 1.28. Parker-Hannifin Corp also saw unusually large options trading activity on Monday. Stock traders acquired 3,438 put options on the stock. This is an increase of approximately 483% compared to the average daily volume of 590 put options.
Parker-Hannifin Corp (NYSE:PH) last released its earnings results on Thursday, February 2nd. The industrial products company reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.52. The company earned $2.67 billion during the quarter, compared to the consensus estimate of $2.69 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 EPS. Equities analysts expect that Parker-Hannifin Corp will post $7.49 earnings per share for the current fiscal year.
PH has been the topic of a number of recent analyst reports. Aegis upgraded Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Friday, January 6th. BMO Capital Markets upgraded Parker-Hannifin Corp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $125.00 to $175.00 in a report on Friday, January 13th. Barclays PLC reiterated a “hold” rating and issued a $138.00 price objective on shares of Parker-Hannifin Corp in a report on Wednesday, January 18th. Avondale Partners upgraded Parker-Hannifin Corp from a “market perform” rating to a “market outperform” rating in a report on Wednesday, February 1st. Finally, Credit Suisse Group AG set a $169.00 price objective on Parker-Hannifin Corp and gave the company a “buy” rating in a report on Saturday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Parker-Hannifin Corp presently has an average rating of “Buy” and a consensus target price of $157.75.
In other news, Chairman Thomas L. Williams sold 18,435 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $160.00, for a total value of $2,949,600.00. Following the completion of the sale, the chairman now owns 69,952 shares of the company’s stock, valued at approximately $11,192,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yoon Michael Chung sold 657 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $158.40, for a total transaction of $104,068.80. Following the completion of the sale, the vice president now directly owns 23,338 shares of the company’s stock, valued at approximately $3,696,739.20. The disclosure for this sale can be found here. Insiders sold a total of 42,184 shares of company stock valued at $6,675,032 in the last three months. Insiders own 2.73% of the company’s stock.
About Parker-Hannifin Corp
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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