WBI Investments Inc. acquired a new position in shares of Parker-Hannifin Corp (NYSE:PH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,742 shares of the industrial products company’s stock, valued at approximately $1,997,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. Dubuque Bank & Trust Co. boosted its holdings in shares of Parker-Hannifin by 97.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after buying an additional 78 shares during the period. Trustcore Financial Services LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at $34,000. Gemmer Asset Management LLC raised its stake in Parker-Hannifin by 162.3% during the 1st quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. HMS Capital Management LLC acquired a new position in Parker-Hannifin during the 2nd quarter valued at $36,000. Finally, Destination Wealth Management raised its stake in Parker-Hannifin by 254.3% during the 2nd quarter. Destination Wealth Management now owns 248 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 178 shares during the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on PH shares. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on shares of Diageo and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Wells Fargo & Co upped their target price on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Barclays upped their target price on shares of Stanley Black & Decker from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Morgan Stanley upped their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. Finally, Goldman Sachs Group cut shares of Micro Focus International from a “neutral” rating to a “sell” rating in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $177.85.

Shares of PH stock traded down $2.40 during mid-day trading on Friday, reaching $174.89. The company’s stock had a trading volume of 731,950 shares, compared to its average volume of 905,920. Parker-Hannifin Corp has a 1-year low of $140.82 and a 1-year high of $193.19. The company has a market capitalization of $22.44 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.59 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.56. The firm’s 50-day moving average is $168.39.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.16. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the company posted $2.80 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that Parker-Hannifin Corp will post 11.62 EPS for the current fiscal year.

In other news, VP Robert W. Malone sold 336 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total value of $52,671.36. Following the completion of the transaction, the vice president now owns 24,260 shares in the company, valued at approximately $3,802,997.60. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.12% of the company’s stock.

Parker-Hannifin Company 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.

Further Reading: Cost of Equity For A Business, Investors

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

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