Oddo BHF Asset Management Sas Makes New $2.52 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Oddo BHF Asset Management Sas bought a new position in Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,990 shares of the industrial products company’s stock, valued at approximately $2,521,000.

A number of other large investors have also modified their holdings of PH. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the third quarter valued at about $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% during the 3rd 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 in the last quarter. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the 2nd quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.6 %

PH stock opened at $671.90 on Friday. The firm has a market cap of $86.49 billion, a PE ratio of 30.35, a P/E/G ratio of 2.77 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $440.00 and a 12 month high of $712.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $668.62 and a 200 day simple moving average of $595.71.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a dividend of $1.63 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PH shares. Truist Financial lifted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Raymond James raised their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, KeyCorp lifted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $709.65.

Insider Activity at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. Company 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.