Rothschild Asset Management Inc. Has $74.30 Million Position in Parker-Hannifin Corporation (NYSE:PH)

Rothschild Asset Management Inc. cut its position in Parker-Hannifin Corporation (NYSE:PH) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 464,894 shares of the industrial products company’s stock after selling 5,049 shares during the period. Parker-Hannifin Corporation makes up about 0.8% of Rothschild Asset Management Inc.’s portfolio, making the stock its 17th largest position. Rothschild Asset Management Inc. owned approximately 0.35% of Parker-Hannifin Corporation worth $74,299,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PH. BlackRock Inc. boosted its stake in Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock worth $1,309,223,000 after buying an additional 7,865,974 shares in the last quarter. Longview Partners Guernsey LTD raised its position in Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after buying an additional 362,076 shares in the last quarter. Jennison Associates LLC raised its position in Parker-Hannifin Corporation by 8.1% in the first quarter. Jennison Associates LLC now owns 4,673,164 shares of the industrial products company’s stock valued at $749,202,000 after buying an additional 349,010 shares in the last quarter. FMR LLC raised its position in Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Parker-Hannifin Corporation by 9.7% in the first quarter. Geode Capital Management LLC now owns 1,353,921 shares of the industrial products company’s stock valued at $216,760,000 after buying an additional 119,228 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Parker-Hannifin Corporation (NYSE:PH) traded up 0.81% during midday trading on Friday, hitting $157.02. The company had a trading volume of 1,013,764 shares. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 21.66 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50. The company’s 50-day moving average price is $162.43 and its 200 day moving average price is $158.07.

Parker-Hannifin Corporation (NYSE:PH) last released its earnings results 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. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business earned $1.90 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post $9.06 earnings per share for the current fiscal year.

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Several research firms have weighed in on PH. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Sunday, April 30th. Barclays PLC set a $162.00 price target on Parker-Hannifin Corporation and gave the company a “hold” rating in a research note on Sunday, April 30th. Jefferies Group LLC reissued a “hold” rating and issued a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday. Finally, Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $168.69.

In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,850 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total transaction of $456,228.00. Following the transaction, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total transaction of $407,279.40. Following the transaction, the vice president now directly owns 21,753 shares in the company, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.

Parker-Hannifin Corporation 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 Corporation (NYSE:PH)

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