Goldman Sachs Group Inc. Has $237.97 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Goldman Sachs Group Inc. cut its stake in Parker-Hannifin Co. (NYSE:PHGet Rating) by 35.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 748,032 shares of the industrial products company’s stock after selling 403,080 shares during the period. Goldman Sachs Group Inc.’s holdings in Parker-Hannifin were worth $237,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PH. FMR LLC lifted its position in Parker-Hannifin by 16.1% during the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after buying an additional 43,094 shares in the last quarter. Mackenzie Financial Corp lifted its position in Parker-Hannifin by 43.8% during the 3rd quarter. Mackenzie Financial Corp now owns 7,617 shares of the industrial products company’s stock worth $2,130,000 after buying an additional 2,321 shares in the last quarter. Boston Private Wealth LLC lifted its position in Parker-Hannifin by 40.2% during the 3rd quarter. Boston Private Wealth LLC now owns 1,161 shares of the industrial products company’s stock worth $325,000 after buying an additional 333 shares in the last quarter. CIBC Asset Management Inc lifted its position in Parker-Hannifin by 3.0% during the 3rd quarter. CIBC Asset Management Inc now owns 11,682 shares of the industrial products company’s stock worth $3,267,000 after buying an additional 341 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Parker-Hannifin by 8.1% during the 3rd quarter. Geneos Wealth Management Inc. now owns 973 shares of the industrial products company’s stock worth $284,000 after buying an additional 73 shares in the last quarter. 80.55% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin stock traded up $4.91 during trading hours on Friday, hitting $265.35. The company had a trading volume of 811,197 shares, compared to its average volume of 717,578. The firm has a market cap of $34.06 billion, a PE ratio of 20.52, a PEG ratio of 1.61 and a beta of 1.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.52 and a quick ratio of 1.09. Parker-Hannifin Co. has a one year low of $253.85 and a one year high of $340.00. The firm has a 50-day moving average of $278.57 and a 200 day moving average of $300.47.

Parker-Hannifin (NYSE:PHGet Rating) last released its quarterly earnings results on Thursday, May 5th. The industrial products company reported $4.83 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.18. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.11 EPS. As a group, research analysts expect that Parker-Hannifin Co. will post 18.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Friday, May 13th will be given a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, May 12th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.03. Parker-Hannifin’s dividend payout ratio is presently 31.86%.

Several equities research analysts have commented on PH shares. StockNews.com started coverage on shares of Parker-Hannifin in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating on the stock in a report on Thursday, April 14th. Barclays dropped their target price on shares of Parker-Hannifin from $376.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Finally, Jefferies Financial Group dropped their target price on shares of Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, March 4th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $356.71.

In other news, Director James L. Wainscott purchased 1,000 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average price of $273.44 per share, for a total transaction of $273,440.00. Following the transaction, the director now owns 18,280 shares of the company’s stock, valued at approximately $4,998,483.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Wainscott purchased 2,000 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average price of $267.78 per share, for a total transaction of $535,560.00. Following the transaction, the director now directly owns 17,280 shares in the company, valued at approximately $4,627,238.40. The disclosure for this purchase can be found here. Corporate insiders own 1.47% of the company’s stock.

Parker-Hannifin Profile (Get Rating)

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 Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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

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