Union Bankshares Corp Cuts Holdings in Parker-Hannifin Corp (PH)

Union Bankshares Corp cut its stake in Parker-Hannifin Corp (NYSE:PH) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,484 shares of the industrial products company’s stock after selling 705 shares during the period. Parker-Hannifin accounts for about 1.5% of Union Bankshares Corp’s investment portfolio, making the stock its 23rd biggest position. Union Bankshares Corp’s holdings in Parker-Hannifin were worth $4,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Parker-Hannifin by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares during the last quarter. BlackRock Inc. boosted its holdings in Parker-Hannifin by 3.6% during the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares during the last quarter. Longview Partners Guernsey LTD boosted its holdings in Parker-Hannifin by 5.4% during the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after purchasing an additional 278,500 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Parker-Hannifin by 10.2% during the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after acquiring an additional 194,858 shares in the last quarter. Finally, FMR LLC raised its position in Parker-Hannifin by 11.7% during the second quarter. FMR LLC now owns 1,959,733 shares of the industrial products company’s stock worth $313,205,000 after acquiring an additional 204,826 shares in the last quarter. 78.05% of the stock is owned by institutional investors.

Parker-Hannifin Corp (NYSE:PH) traded up $0.88 during trading hours on Wednesday, reaching $210.79. 544,637 shares of the company traded hands, compared to its average volume of 889,070. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corp has a twelve month low of $141.06 and a twelve month high of $212.80. The firm has a market cap of $28,040.00, a P/E ratio of 27.06, a PEG ratio of 1.88 and a beta of 1.40.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business earned $1.61 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. equities analysts predict that Parker-Hannifin Corp will post 9.61 earnings per share for the current fiscal year.

PH has been the topic of several analyst reports. KeyCorp reaffirmed a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research report on Tuesday, October 10th. Stifel Nicolaus reissued a “buy” rating and issued a $198.00 price objective on shares of Parker-Hannifin in a research report on Friday, October 13th. Buckingham Research initiated coverage on shares of Parker-Hannifin in a research report on Tuesday, October 17th. They issued a “buy” rating and a $205.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $194.68.

In other Parker-Hannifin news, VP Thomas C. Gentile sold 326 shares of Parker-Hannifin stock in a transaction on Friday, November 10th. The shares were sold at an average price of $181.89, for a total transaction of $59,296.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert W. Bond sold 5,517 shares of Parker-Hannifin stock in a transaction on Friday, November 17th. The stock was sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the transaction, the vice president now directly owns 28,265 shares in the company, valued at $5,136,315.80. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock valued at $4,127,941 in the last quarter. 1.12% of the stock is currently owned by company insiders.

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About Parker-Hannifin

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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

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