Stevens Capital Management LP Takes Position in Parker-Hannifin Corporation (PH)

Stevens Capital Management LP purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,561 shares of the industrial products company’s stock, valued at approximately $2,647,000.

A number of other large investors have also recently made changes to their positions in PH. Israel Discount Bank of New York grew its stake in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after buying an additional 150 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after buying an additional 24 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin Corporation in the first quarter valued at about $112,000. BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin Corporation in the second quarter valued at about $124,000. Finally, TrimTabs Asset Management LLC grew its stake in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

A number of research firms have recently issued reports on PH. KeyCorp reiterated an “overweight” rating and issued a $185.00 target price on shares of Parker-Hannifin Corporation in a research note on Saturday, September 16th. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 target price on shares of Parker-Hannifin Corporation in a research note on Thursday, August 3rd. Finally, Wolfe Research began coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. Parker-Hannifin Corporation currently has a consensus rating of “Buy” and an average price target of $174.38.

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Parker-Hannifin Corporation (NYSE PH) opened at 176.29 on Thursday. The company has a market cap of $23.47 billion, a P/E ratio of 24.32 and a beta of 1.41. The firm’s 50-day moving average price is $161.62 and its 200-day moving average price is $160.00. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $177.60.

Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corporation will post $9.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 36.51%.

In related news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now directly owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total value of $437,368.80. Following the sale, the vice president now directly owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,389 shares of company stock worth $878,913. 2.73% of the stock is owned by company insiders.

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.

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

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