Candriam S.C.A. Sells 1,287 Shares of Parker-Hannifin Corporation $PH

Candriam S.C.A. decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,624 shares of the industrial products company’s stock after selling 1,287 shares during the period. Candriam S.C.A.’s holdings in Parker-Hannifin were worth $43,688,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PH. Chilton Capital Management LLC bought a new stake in Parker-Hannifin in the third quarter worth approximately $29,000. Interchange Capital Partners LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at $36,000. State of Wyoming bought a new position in Parker-Hannifin during the second quarter worth $38,000. Finally, Princeton Global Asset Management LLC grew its holdings in Parker-Hannifin by 56.1% in the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 23 shares during the period. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Mizuho boosted their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Barclays increased their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Morgan Stanley reissued a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Trading Up 1.0%

NYSE PH opened at $977.70 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $908.41 and a 200 day simple moving average of $816.23. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $989.13. The firm has a market capitalization of $123.41 billion, a P/E ratio of 35.66, a PEG ratio of 3.33 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the business posted $6.53 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $11,739,907.20. This trade represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rachid Bendali sold 1,437 shares of Parker-Hannifin stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total value of $1,225,746.63. Following the sale, the vice president owned 2,714 shares in the company, valued at $2,315,014.86. This trade represents a 34.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,769 shares of company stock valued at $9,649,169 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.