Parker-Hannifin Co. (NYSE:PH) Shares Sold by BNP Paribas

BNP Paribas lowered its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,602 shares of the industrial products company's stock after selling 1,226 shares during the quarter. Parker-Hannifin accounts for about 1.6% of BNP Paribas' investment portfolio, making the stock its 17th largest position. BNP Paribas' holdings in Parker-Hannifin were worth $37,370,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Parker-Hannifin by 93.7% in the fourth quarter. BNP Paribas Financial Markets now owns 260,808 shares of the industrial products company's stock worth $165,882,000 after acquiring an additional 126,196 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Parker-Hannifin by 52.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 85,013 shares of the industrial products company's stock valued at $54,071,000 after buying an additional 29,319 shares during the period. Alteri Wealth LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $1,004,000. Aptus Capital Advisors LLC boosted its holdings in Parker-Hannifin by 10.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 718 shares of the industrial products company's stock valued at $457,000 after acquiring an additional 69 shares during the last quarter. Finally, Ancora Advisors LLC raised its holdings in Parker-Hannifin by 11.9% during the 4th quarter. Ancora Advisors LLC now owns 11,392 shares of the industrial products company's stock worth $7,245,000 after purchasing an additional 1,216 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, 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 accessible through this hyperlink. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Trading Up 2.8 %

PH stock traded up $17.49 during trading on Thursday, reaching $640.51. The company had a trading volume of 859,840 shares, compared to its average volume of 715,207. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a market cap of $82.45 billion, a P/E ratio of 26.51, a PEG ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a 50 day moving average of $598.10 and a 200 day moving average of $645.22.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the company earned $6.51 earnings per share. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is 27.72%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of analyst reports. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Barclays cut their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $710.12.

About Parker-Hannifin

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.