Parker-Hannifin Co. (NYSE:PH) is Richelieu Gestion SA’s 10th Largest Position

Richelieu Gestion SA decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 25.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,408 shares of the industrial products company’s stock after selling 1,499 shares during the period. Parker-Hannifin accounts for about 2.5% of Richelieu Gestion SA’s holdings, making the stock its 10th largest holding. Richelieu Gestion SA’s holdings in Parker-Hannifin were worth $2,450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PH. Sachetta LLC bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $26,000. First United Bank & Trust bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $29,000. Harbor Investment Advisory LLC raised its position in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin during the 4th quarter valued at approximately $30,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH traded down $3.91 during trading hours on Wednesday, reaching $501.39. 327,255 shares of the company traded hands, compared to its average volume of 638,531. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $64.45 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.02 and a beta of 1.46. The business has a fifty day moving average price of $533.05 and a 200-day moving average price of $514.85.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the company earned $5.93 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Co. will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. Parker-Hannifin’s payout ratio is 30.73%.

Insider Buying and Selling

In related news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PH. Stifel Nicolaus upped their price target on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays decreased their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Bank of America lifted their target price on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $566.33.

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.