BNP Paribas Acquires 556 Shares of Parker-Hannifin Co. (NYSE:PH)

BNP Paribas lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,828 shares of the industrial products company’s stock after purchasing an additional 556 shares during the period. Parker-Hannifin accounts for about 1.6% of BNP Paribas’ portfolio, making the stock its 15th biggest position. BNP Paribas’ holdings in Parker-Hannifin were worth $37,859,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Parker-Hannifin by 8.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 196,960 shares of the industrial products company’s stock valued at $109,470,000 after purchasing an additional 15,079 shares during the period. Tidal Investments LLC boosted its holdings in Parker-Hannifin by 41.4% in the first quarter. Tidal Investments LLC now owns 7,843 shares of the industrial products company’s stock worth $4,360,000 after acquiring an additional 2,298 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its stake in Parker-Hannifin by 15.5% in the first quarter. Jaffetilchin Investment Partners LLC now owns 1,020 shares of the industrial products company’s stock valued at $567,000 after acquiring an additional 137 shares during the period. First Western Trust Bank bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $236,000. Finally, Plato Investment Management Ltd lifted its holdings in shares of Parker-Hannifin by 21,881.3% in the 1st quarter. Plato Investment Management Ltd now owns 3,517 shares of the industrial products company’s stock worth $1,955,000 after purchasing an additional 3,501 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PH shares. TD Cowen raised their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Mizuho lifted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Truist Financial increased their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Argus lifted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 0.4 %

Shares of PH opened at $706.92 on Wednesday. Parker-Hannifin Co. has a twelve month low of $426.49 and a twelve month high of $712.42. The stock has a market cap of $90.99 billion, a PE ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $651.50 and its 200-day moving average price is $582.76.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.96 EPS. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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 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.