BNP Paribas Financial Markets Buys 49,483 Shares of Parker-Hannifin Co. (NYSE:PH)

BNP Paribas Financial Markets raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 58.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,612 shares of the industrial products company’s stock after buying an additional 49,483 shares during the period. BNP Paribas Financial Markets’ holdings in Parker-Hannifin were worth $85,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. West Branch Capital LLC bought a new position in Parker-Hannifin during the third quarter valued at $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Addison Advisors LLC bought a new position in Parker-Hannifin during the second quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the third quarter valued at $39,000. Finally, Fortitude Family Office LLC lifted its position in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $699.71 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The company’s fifty day moving average price is $653.32 and its 200 day moving average price is $583.58. The company has a market capitalization of $90.07 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.96 earnings per share. On average, research analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research report on Monday, November 18th. UBS Group assumed coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $691.40.

Insider Activity

In related news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were 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 directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock worth $12,303,829 over the last three months. 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.