Short Interest in Parker-Hannifin Corp (NYSE:PH) Declines By 5.3%

Parker-Hannifin Corp (NYSE:PH) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,853,000 shares, a drop of 5.3% from the May 30th total of 3,014,200 shares. Based on an average trading volume of 915,200 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.2% of the company’s shares are sold short.

In related news, VP Robert W. Malone sold 336 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was 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 in the company, valued at approximately $3,802,997.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.12% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. boosted its stake in shares of Parker-Hannifin by 11.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 537 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 55 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1.6% in the first quarter. LS Investment Advisors LLC now owns 4,703 shares of the industrial products company’s stock worth $807,000 after acquiring an additional 74 shares during the period. First Manhattan Co. boosted its stake in shares of Parker-Hannifin by 17.1% in the first quarter. First Manhattan Co. now owns 526 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 77 shares during the period. Dubuque Bank & Trust Co. boosted its stake in shares of Parker-Hannifin by 97.5% in the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 78 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of Parker-Hannifin by 6.4% in the fourth quarter. MML Investors Services LLC now owns 1,403 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 84 shares during the period. 79.64% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin stock opened at $167.76 on Tuesday. The stock has a market capitalization of $21.64 billion, a PE ratio of 16.10, a PEG ratio of 1.53 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. Parker-Hannifin has a one year low of $140.82 and a one year high of $193.19. The firm’s fifty day moving average price is $165.13.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.16. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. Parker-Hannifin’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.80 earnings per share. Equities research analysts anticipate that Parker-Hannifin will post 11.63 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on Stanley Black & Decker from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Wells Fargo & Co lifted their price target on Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on Diageo and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Bank of America set a $80.00 price target on Colgate-Palmolive and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley lifted their price target on Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $178.63.

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.

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