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

Geneva Partners LLC lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 26.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (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 approximately 2.1% of Geneva Partners LLC’s holdings, making the stock its 18th biggest holding. Geneva Partners LLC’s holdings in Parker-Hannifin were worth $3,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin in the 4th quarter valued at $26,000. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $25,000. Baystate Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $30,000. Finally, Oakworth Capital Inc. grew its holdings in shares of Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the transaction, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Down 0.6 %

Shares of NYSE:PH traded down $3.44 during mid-day trading on Friday, reaching $534.65. The stock had a trading volume of 555,682 shares, compared to its average volume of 588,531. The firm has a market cap of $68.65 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.98 and a beta of 1.52. The firm has a 50 day simple moving average of $540.36 and a two-hundred day simple moving average of $472.15. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a twelve month low of $309.89 and a twelve month high of $570.15.

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

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Barclays increased their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $515.38.

Parker-Hannifin 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.