Geneva Partners LLC Sells 2,989 Shares of Parker-Hannifin Co. (NYSE:PH)

Geneva Partners LLC cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 26.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,330 shares of the industrial products company’s stock after selling 2,989 shares during the quarter. Parker-Hannifin accounts for 2.1% of Geneva Partners LLC’s investment portfolio, making the stock its 18th largest holding. Geneva Partners LLC’s holdings in Parker-Hannifin were worth $3,838,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PH. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Parker-Hannifin by 0.7% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. M&R Capital Management Inc. increased its position in shares of Parker-Hannifin by 25.0% during the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 25 shares during the last quarter. Private Trust Co. NA increased its position in shares of Parker-Hannifin by 0.7% during the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after purchasing an additional 25 shares during the last quarter. Keel Point LLC increased its position in shares of Parker-Hannifin by 3.1% during the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 25 shares during the last quarter. Finally, Caprock Group LLC increased its position in shares of Parker-Hannifin by 1.8% during the 4th quarter. Caprock Group LLC now owns 1,503 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 26 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

PH stock traded down $3.44 during mid-day trading on Friday, reaching $534.65. 555,682 shares of the company traded hands, compared to its average volume of 588,531. The company has a market capitalization of $68.65 billion, a P/E ratio of 26.47, a P/E/G ratio of 1.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company has a fifty day moving average price of $540.36 and a 200-day moving average price of $472.15. Parker-Hannifin Co. has a 52-week low of $309.89 and a 52-week high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $4.76 EPS. As a group, analysts anticipate that Parker-Hannifin Co. will post 24.3 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Wall Street Analysts Forecast Growth

PH has been the subject of several research analyst reports. Evercore ISI raised their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays lifted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $515.38.

Insider Activity

In other news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,079 shares of company stock worth $6,099,566. 1.03% of the stock is currently owned by insiders.

About Parker-Hannifin

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.