Richelieu Gestion SA Sells 1,499 Shares of Parker-Hannifin Co. (NYSE:PH)

Richelieu Gestion SA cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 25.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,408 shares of the industrial products company’s stock after selling 1,499 shares during the quarter. Parker-Hannifin accounts for 2.5% of Richelieu Gestion SA’s investment portfolio, making the stock its 10th largest position. Richelieu Gestion SA’s holdings in Parker-Hannifin were worth $2,450,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sachetta LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $26,000. First United Bank & Trust purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth about $29,000. Harbor Investment Advisory LLC grew its holdings in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $30,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

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

Parker-Hannifin Trading Down 0.8 %

PH traded down $3.91 during midday trading on Wednesday, reaching $501.39. 327,255 shares of the company were exchanged, compared to its average volume of 638,531. Parker-Hannifin Co. has a one year low of $362.49 and a one 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 stock has a market capitalization of $64.45 billion, a P/E ratio of 23.50, a PEG ratio of 2.02 and a beta of 1.46. The stock’s 50-day simple moving average is $533.05 and its 200 day simple moving average is $514.85.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping 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 analyst estimates of $5.07 billion. During the same quarter in the previous year, the firm earned $5.93 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PH shares. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. KeyCorp boosted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Barclays reduced their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $566.33.

Parker-Hannifin Company 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.