Parker-Hannifin Corporation (NYSE:PH) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 15.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,031 shares of the industrial products company's stock after selling 4,152 shares during the period. Atria Investments Inc's holdings in Parker-Hannifin were worth $14,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Manhattan CO. LLC. increased its stake in shares of Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares during the period. Becker Capital Management Inc. lifted its stake in shares of Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after buying an additional 16 shares during the period. Citizens National Bank Trust Department lifted its stake in shares of Parker-Hannifin by 8.5% in the first quarter. Citizens National Bank Trust Department now owns 217 shares of the industrial products company's stock valued at $132,000 after buying an additional 17 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Parker-Hannifin by 1.6% in the first quarter. Sunbelt Securities Inc. now owns 1,175 shares of the industrial products company's stock valued at $714,000 after buying an additional 18 shares during the period. Finally, Argonautica Private Wealth Management Inc. lifted its stake in shares of Parker-Hannifin by 0.4% in the first quarter. Argonautica Private Wealth Management Inc. now owns 4,095 shares of the industrial products company's stock valued at $2,489,000 after buying an additional 18 shares during the period. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PH shares. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp lifted their target price on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a research report on Monday, July 21st. Finally, Morgan Stanley lifted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $739.59.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president directly owned 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE PH traded down $0.53 during midday trading on Monday, reaching $738.30. The stock had a trading volume of 196,760 shares, compared to its average volume of 744,732. The company has a market capitalization of $94.34 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $745.35. The stock has a 50-day moving average of $686.08 and a 200-day moving average of $651.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the business posted $6.51 EPS. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.