Boston Partners Cuts Holdings in Parker-Hannifin Corporation (NYSE:PH)

Boston Partners trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 28.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 412,938 shares of the industrial products company’s stock after selling 167,116 shares during the period. Boston Partners’ holdings in Parker-Hannifin were worth $250,962,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock worth $1,054,870,000 after buying an additional 1,732,791 shares during the last quarter. Nuveen LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter worth $933,089,000. Royal Bank of Canada boosted its stake in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after buying an additional 1,137,564 shares during the last quarter. Capital World Investors purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $418,174,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of Parker-Hannifin by 6,912.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company’s stock worth $198,742,000 after buying an additional 308,016 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PH shares. Mizuho set a $785.00 price target on Parker-Hannifin in a research note on Friday, May 16th. Raymond James Financial set a $845.00 price target on Parker-Hannifin and gave the stock an “outperform” rating in a research note on Friday, August 8th. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Barclays raised their price target on Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, Citigroup reaffirmed a “buy” rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $763.00.

Parker-Hannifin Price Performance

NYSE:PH opened at $762.20 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The business’s 50-day simple moving average is $702.68 and its two-hundred day simple moving average is $657.94. The stock has a market cap of $97.39 billion, a PE ratio of 28.10, a P/E/G ratio of 3.12 and a beta of 1.37. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $763.99.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, beating analysts’ consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Robert W. Malone sold 2,257 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president directly owned 5,866 shares of the company’s stock, valued at $4,286,051.56. This trade represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew A. Jacobson sold 575 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $733.06, for a total value of $421,509.50. Following the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $733,060. This represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,414 shares of company stock valued at $6,883,931. 0.39% of the stock is currently owned by corporate 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.