Banque Cantonale Vaudoise Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Banque Cantonale Vaudoise boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 89.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 772 shares of the industrial products company’s stock after acquiring an additional 365 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Parker-Hannifin were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. Sachetta LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $26,000. First United Bank & Trust purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $33,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the firm’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 completion of the sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Parker-Hannifin Trading Down 0.8 %

Shares of Parker-Hannifin stock opened at $504.16 on Friday. The company’s fifty day moving average is $534.48 and its two-hundred day moving average is $513.28. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The company has a market capitalization of $64.80 billion, a P/E ratio of 23.76, a PEG ratio of 2.03 and a beta of 1.46.

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

Parker-Hannifin Increases Dividend

The company also recently disclosed 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 a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 30.73%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Argus lifted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp boosted their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $611.00 price target on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.