Geneva Partners LLC Has $4.62 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Geneva Partners LLC lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,318 shares of the industrial products company’s stock after selling 16 shares during the quarter. Parker-Hannifin comprises about 2.0% of Geneva Partners LLC’s investment portfolio, making the stock its 17th largest position. Geneva Partners LLC’s holdings in Parker-Hannifin were worth $4,624,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $25,000. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at $25,000. Bangor Savings Bank increased its position in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Fortitude Family Office LLC raised its holdings in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $38,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Raymond James lifted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Robert W. Baird lifted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. KeyCorp lifted their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays increased their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $664.57.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Parker-Hannifin Price Performance

NYSE PH opened at $638.00 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The stock has a market cap of $82.09 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 2.56 and a beta of 1.43. The business has a 50 day simple moving average of $616.39 and a 200 day simple moving average of $565.93. Parker-Hannifin Co. has a 52-week low of $399.19 and a 52-week high of $646.60.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.96 earnings per share. Analysts anticipate that Parker-Hannifin Co. will post 26.84 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

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.