Lazard Asset Management LLC Increases Stake in Parker-Hannifin Corporation (PH)

Lazard Asset Management LLC lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 921,950 shares of the industrial products company’s stock after purchasing an additional 82,643 shares during the quarter. Lazard Asset Management LLC owned about 0.69% of Parker-Hannifin Corporation worth $147,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in shares of Parker-Hannifin Corporation by 1.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 15 shares during the period. Parallel Advisors LLC raised its position in shares of Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares during the period. Calamos Wealth Management LLC raised its position in shares of Parker-Hannifin Corporation by 0.4% during the 2nd quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 34 shares during the period. Geneva Advisors LLC raised its position in shares of Parker-Hannifin Corporation by 0.7% during the 2nd quarter. Geneva Advisors LLC now owns 5,476 shares of the industrial products company’s stock worth $875,000 after purchasing an additional 38 shares during the period. Finally, Warren Averett Asset Management LLC raised its position in shares of Parker-Hannifin Corporation by 1.7% during the 2nd quarter. Warren Averett Asset Management LLC now owns 2,398 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.

Several analysts recently commented on the company. KeyCorp restated an “overweight” rating and issued a $185.00 target price on shares of Parker-Hannifin Corporation in a research report on Saturday. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and issued a $163.00 target price on shares of Parker-Hannifin Corporation in a research report on Thursday, August 3rd. Finally, Wolfe Research assumed coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. Parker-Hannifin Corporation has a consensus rating of “Buy” and a consensus price target of $174.38.

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In other Parker-Hannifin Corporation news, EVP Mark J. Hart sold 600 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $160.72, for a total transaction of $96,432.00. Following the completion of the sale, the executive vice president now owns 5,851 shares in the company, valued at approximately $940,372.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,389 shares of company stock valued at $878,913 in the last quarter. Corporate insiders own 2.73% of the company’s stock.

Parker-Hannifin Corporation (NYSE:PH) traded up 1.598% during midday trading on Monday, hitting $172.401. The stock had a trading volume of 574,479 shares. The company has a market cap of $22.95 billion, a P/E ratio of 23.779 and a beta of 1.41. The stock’s 50-day moving average is $161.07 and its 200-day moving average is $159.70. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $173.17.

Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. Equities analysts predict that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is 36.51%.

Parker-Hannifin Corporation 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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