Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 70.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,313 shares of the industrial products company’s stock after acquiring an additional 541 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Parker-Hannifin were worth $665,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PH. Norges Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at $665,188,000. Kodai Capital Management LP acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at $122,449,000. 1832 Asset Management L.P. increased its position in shares of Parker-Hannifin by 305.0% during the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after purchasing an additional 231,788 shares during the period. AMF Tjanstepension AB increased its position in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares during the period. Finally, Groupama Asset Managment bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $63,043,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

PH opened at $600.20 on Monday. The stock has a market cap of $77.19 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.44 and a beta of 1.44. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $601.30. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $547.07 and a 200 day moving average price of $541.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.08 earnings per share. Analysts forecast that Parker-Hannifin Co. will post 26.61 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin’s payout ratio is 30.73%.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Wells Fargo & Company raised their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Raymond James initiated coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 price objective for the company. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Finally, Robert W. Baird raised their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.14.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The disclosure for this sale can be found here. Insiders own 1.03% 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.