Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 10.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,876 shares of the industrial products company’s stock after buying an additional 5,593 shares during the period. Union Bancaire Privee UBP SA’s holdings in Parker-Hannifin were worth $34,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $32,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $40,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 16th. Morgan Stanley began coverage on Parker-Hannifin in a research report on Thursday, June 5th. They set an “equal weight” rating and a $700.00 price target on the stock. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus upped their target price on Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a research note on Monday, June 2nd. Finally, Argus set a $680.00 target price on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $719.71.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $671.65 on Thursday. The firm has a market cap of $85.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The business’s fifty day simple moving average is $623.09 and its 200-day simple moving average is $645.18.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.51 EPS. Equities analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $1.80 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.72%.

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.