Minneapolis Portfolio Management Group LLC increased its holdings in Parker-Hannifin Corp (NYSE:PH) by 14.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,488 shares of the industrial products company’s stock after purchasing an additional 20,594 shares during the quarter. Parker-Hannifin accounts for 3.3% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 19th biggest position. Minneapolis Portfolio Management Group LLC owned about 0.13% of Parker-Hannifin worth $28,135,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Parker-Hannifin by 23.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 683,224 shares of the industrial products company’s stock valued at $101,897,000 after acquiring an additional 131,234 shares during the period. Geode Capital Management LLC raised its holdings in shares of Parker-Hannifin by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 1,708,007 shares of the industrial products company’s stock valued at $254,281,000 after acquiring an additional 128,514 shares during the period. First Manhattan Co. raised its holdings in shares of Parker-Hannifin by 17.1% during the first quarter. First Manhattan Co. now owns 526 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 77 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Parker-Hannifin by 56.9% during the first quarter. Meeder Asset Management Inc. now owns 2,816 shares of the industrial products company’s stock valued at $483,000 after acquiring an additional 1,021 shares during the period. Finally, Gemmer Asset Management LLC raised its holdings in shares of Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 79.78% of the company’s stock.
PH traded up $4.02 on Friday, reaching $161.64. 22,339 shares of the company traded hands, compared to its average volume of 881,989. The stock’s 50 day moving average price is $168.59 and its 200-day moving average price is $170.87. Parker-Hannifin Corp has a 52-week low of $140.82 and a 52-week high of $193.19. The company has a market cap of $21.25 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.52 and a beta of 1.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.43 and a quick ratio of 1.90.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.22. Parker-Hannifin had a net margin of 10.56% and a return on equity of 26.11%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm posted $3.22 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin Corp will post 11.96 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Goldman Sachs Group lowered shares of Parker-Hannifin from a “neutral” rating to a “sell” rating and cut their price target for the company from $178.00 to $150.00 in a report on Tuesday, July 16th. Citigroup boosted their price target on shares of Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 6th. JPMorgan Chase & Co. lowered shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and cut their price target for the company from $186.00 to $169.00 in a report on Wednesday, July 10th. Zacks Investment Research lowered shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a report on Wednesday, July 17th. Finally, Bank of America lowered shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $176.55.
In related news, VP Robert W. Malone sold 336 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total transaction of $52,671.36. Following the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.12% of the company’s stock.
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.
See Also: Outstanding Shares
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corp (NYSE:PH).
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.