Oddo BHF Asset Management Sas Buys New Stake in Parker-Hannifin Co. (NYSE:PH)

Oddo BHF Asset Management Sas bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,990 shares of the industrial products company’s stock, valued at approximately $2,521,000.

Other hedge funds also recently bought and sold shares of the company. CVA Family Office LLC grew its stake in shares of Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 16 shares during the last quarter. Sonoma Private Wealth LLC boosted its holdings in Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 19 shares during the period. W Advisors LLC grew its position in Parker-Hannifin by 3.4% in the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 19 shares during the last quarter. Simmons Bank increased its holdings in shares of Parker-Hannifin by 0.7% during the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after purchasing an additional 19 shares during the period. Finally, CFS Investment Advisory Services LLC raised its position in shares of Parker-Hannifin by 3.4% during the third quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company’s stock valued at $368,000 after buying an additional 19 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $671.90 on Friday. Parker-Hannifin Co. has a 1-year low of $440.00 and a 1-year high of $712.42. The firm’s 50-day moving average price is $668.62 and its two-hundred day moving average price is $595.71. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $86.49 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 2.77 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company earned $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. Parker-Hannifin’s dividend payout ratio is 29.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PH shares. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective on the stock. Barclays upped their target price on Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $709.65.

Insider Buying and Selling

In other news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

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.