Richelieu Gestion SA cut its holdings in Parker-Hannifin Co. (NYSE:PH – Free Report) by 19.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,702 shares of the industrial products company’s stock after selling 1,648 shares during the period. Parker-Hannifin accounts for about 2.2% of Richelieu Gestion SA’s holdings, making the stock its 27th biggest position. Richelieu Gestion SA’s holdings in Parker-Hannifin were worth $2,614,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Advisor Networks LLC boosted its position in Parker-Hannifin by 8.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 112 shares during the period. Panagora Asset Management Inc. raised its position in shares of Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 1,591 shares in the last quarter. Prudential PLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at approximately $687,000. Moors & Cabot Inc. raised its position in shares of Parker-Hannifin by 270.8% during the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 1,985 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after acquiring an additional 190,889 shares in the last quarter. 82.25% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Price Performance
Shares of PH traded up $4.34 during trading hours on Monday, hitting $396.46. The stock had a trading volume of 211,951 shares, compared to its average volume of 837,069. The company’s fifty day moving average is $406.23 and its two-hundred day moving average is $363.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $235.69 and a 52 week high of $428.16. The stock has a market capitalization of $50.92 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.48 and a beta of 1.52.
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $6.08 earnings per share for the quarter, beating analysts’ consensus estimates of $5.48 by $0.60. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.01 billion. Parker-Hannifin had a net margin of 10.93% and a return on equity of 29.26%. Parker-Hannifin’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.16 earnings per share. On average, analysts anticipate that Parker-Hannifin Co. will post 22.65 EPS for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, August 25th. Parker-Hannifin’s dividend payout ratio is presently 37.00%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. StockNews.com started coverage on Parker-Hannifin in a report on Friday, August 18th. They set a “buy” rating on the stock. Citigroup increased their price target on Parker-Hannifin from $370.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, July 18th. Morgan Stanley increased their price target on Parker-Hannifin from $408.00 to $448.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $450.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Mizuho boosted their price objective on shares of Parker-Hannifin from $335.00 to $415.00 in a research report on Friday, July 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $436.29.
Insiders Place Their Bets
In related news, Director Joseph Scaminace sold 1,660 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $409.91, for a total value of $680,450.60. Following the completion of the sale, the director now owns 5,487 shares in the company, valued at approximately $2,249,176.17. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Joseph Scaminace sold 1,660 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $409.91, for a total value of $680,450.60. Following the completion of the transaction, the director now directly owns 5,487 shares of the company’s stock, valued at approximately $2,249,176.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda S. Harty sold 1,487 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $424.28, for a total transaction of $630,904.36. Following the completion of the transaction, the director now directly owns 4,344 shares of the company’s stock, valued at $1,843,072.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,918 shares of company stock valued at $5,385,885. Company insiders own 1.37% of the company’s stock.
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.