Boston Partners Sells 167,116 Shares of Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Boston Partners has reduced its stake in Parker-Hannifin Corporation by 28.8%, owning 412,938 shares after selling 167,116 shares in the first quarter of the year, making their position worth approximately $250.96 million.
• Parker-Hannifin has shown growth with a 1.1% increase in quarterly revenue to $5.24 billion, and reported earnings per share of $7.69, exceeding estimates.
• Recent price targets for Parker-Hannifin set by analysts range between $725.00 and $845.00, indicating a general consensus of a “Moderate Buy” rating.

Boston Partners lowered its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 412,938 shares of the industrial products company's stock after selling 167,116 shares during the quarter. Boston Partners owned about 0.32% of Parker-Hannifin worth $250,962,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the fourth quarter worth $32,000. Olde Wealth Management LLC bought a new position in shares of Parker-Hannifin in the first quarter worth $35,000. Chilton Capital Management LLC increased its holdings in shares of Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after purchasing an additional 60 shares during the period. Accent Capital Management LLC bought a new position in shares of Parker-Hannifin in the first quarter worth $41,000. Finally, Sierra Ocean LLC increased its holdings in shares of Parker-Hannifin by 89.5% in the first quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after purchasing an additional 34 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 1,133 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the sale, the vice president directly owned 5,465 shares in the company, valued at approximately $3,986,717.50. This represents a 17.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of the 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 completion of the transaction, the vice president directly owned 5,866 shares of the company's stock, valued at approximately $4,286,051.56. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,414 shares of company stock valued at $6,883,931 in the last quarter. 0.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Susquehanna assumed coverage on shares of Parker-Hannifin in a report on Friday. They issued a "positive" rating and a $860.00 price target on the stock. Morgan Stanley upped their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Barclays upped their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. KeyCorp upped their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $768.71.

Parker-Hannifin Trading Down 2.1%

NYSE PH traded down $15.66 during trading on Friday, hitting $729.68. 716,118 shares of the company's stock traded hands, compared to its average volume of 730,332. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The stock has a fifty day moving average of $705.53 and a two-hundred day moving average of $658.92. The firm has a market cap of $93.24 billion, a P/E ratio of 26.91, a PEG ratio of 3.03 and a beta of 1.37. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $763.99.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 earnings per share. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

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.