Parker-Hannifin Corp (PH) Position Cut by Geneva Partners LLC

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Geneva Partners LLC cut its position in shares of Parker-Hannifin Corp (NYSE:PH) by 45.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,455 shares of the industrial products company’s stock after selling 2,015 shares during the period. Geneva Partners LLC’s holdings in Parker-Hannifin were worth $383,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PH. Boston Partners boosted its holdings in Parker-Hannifin by 95.7% during the first quarter. Boston Partners now owns 1,266,759 shares of the industrial products company’s stock worth $216,654,000 after buying an additional 619,359 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Parker-Hannifin by 16,700.2% during the second quarter. Cornerstone Wealth Management LLC now owns 420,341 shares of the industrial products company’s stock worth $2,693,000 after buying an additional 417,839 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Parker-Hannifin by 43.3% during the second quarter. Victory Capital Management Inc. now owns 1,134,998 shares of the industrial products company’s stock worth $176,889,000 after buying an additional 342,899 shares in the last quarter. Bessemer Group Inc. raised its position in Parker-Hannifin by 14,869.5% during the second quarter. Bessemer Group Inc. now owns 330,975 shares of the industrial products company’s stock worth $51,582,000 after acquiring an additional 328,764 shares during the period. Finally, Eaton Vance Management raised its position in Parker-Hannifin by 141.6% during the first quarter. Eaton Vance Management now owns 514,556 shares of the industrial products company’s stock worth $88,005,000 after acquiring an additional 301,597 shares during the period. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

PH has been the subject of a number of research analyst reports. Goldman Sachs Group cut shares of Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price objective for the company. in a research report on Monday, July 16th. Zacks Investment Research cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Wells Fargo & Co cut shares of Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research report on Wednesday, June 20th. Argus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Tuesday, August 14th. Finally, Credit Suisse Group reduced their price objective on shares of Parker-Hannifin from $214.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, August 3rd. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $188.71.

Shares of NYSE PH opened at $170.10 on Tuesday. The stock has a market capitalization of $22.34 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.31 and a beta of 1.42. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.74. Parker-Hannifin Corp has a 52 week low of $152.47 and a 52 week high of $212.80.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 EPS for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.31. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 earnings per share. equities research analysts predict that Parker-Hannifin Corp will post 11.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, August 27th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.17%.

In other news, VP Catherine A. Suever sold 2,148 shares of the stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $175.13, for a total value of $376,179.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by corporate insiders.

Parker-Hannifin Profile

Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.

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

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