Parker-Hannifin Corp (PH) Stake Decreased by Union Bankshares Corp

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Union Bankshares Corp reduced its position in Parker-Hannifin Corp (NYSE:PH) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,279 shares of the industrial products company’s stock after selling 781 shares during the period. Union Bankshares Corp’s holdings in Parker-Hannifin were worth $2,875,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in Parker-Hannifin by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 233,970 shares of the industrial products company’s stock worth $43,034,000 after purchasing an additional 4,165 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in Parker-Hannifin by 7.4% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 3,650 shares of the industrial products company’s stock worth $671,000 after buying an additional 250 shares during the last quarter. Verity & Verity LLC raised its position in Parker-Hannifin by 2.2% during the 3rd quarter. Verity & Verity LLC now owns 26,071 shares of the industrial products company’s stock worth $4,795,000 after buying an additional 570 shares during the last quarter. American International Group Inc. raised its position in Parker-Hannifin by 4.8% during the 3rd quarter. American International Group Inc. now owns 57,899 shares of the industrial products company’s stock worth $10,649,000 after buying an additional 2,649 shares during the last quarter. Finally, Northern Trust Corp raised its position in Parker-Hannifin by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock worth $256,588,000 after buying an additional 16,377 shares during the last quarter. Institutional investors own 79.34% of the company’s stock.

Shares of NYSE:PH traded down $1.84 during trading on Monday, hitting $156.14. 4,444 shares of the stock traded hands, compared to its average volume of 1,009,500. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.20 and a beta of 1.52. Parker-Hannifin Corp has a 52-week low of $140.82 and a 52-week high of $212.80.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.31. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.24 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corp will post 11.6 earnings per share for the current fiscal year.

A number of research firms have issued reports on PH. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Wells Fargo & Co raised their price target on shares of Parker-Hannifin from $185.00 to $193.00 and gave the stock a “market perform” rating in a research report on Thursday, September 27th. Deutsche Bank raised their price target on shares of Parker-Hannifin from $176.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. Gordon Haskett began coverage on shares of Parker-Hannifin in a research report on Friday, October 12th. They set a “sell” rating for the company. Finally, Cowen lowered shares of Parker-Hannifin from a “market perform” rating to an “underperform” rating in a research report on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $185.22.

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

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