Banque Cantonale Vaudoise Makes New Investment in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Parker-Hannifin Corporation, purchasing 3,072 shares valued at approximately $1.87 million in the first quarter.
• Institutional investors hold 82.44% of Parker-Hannifin's stock, with significant increases in holdings from firms like GAMMA Investing and Royal Bank of Canada during the latest quarters.
• Parker-Hannifin reported earnings of $6.94 per share for the latest quarter, exceeding analysts' estimates, but with a 2.2% year-over-year revenue decline.

Banque Cantonale Vaudoise acquired a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 3,072 shares of the industrial products company's stock, valued at approximately $1,867,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Parker-Hannifin by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after buying an additional 99,261 shares in the last quarter. Invesco Ltd. boosted its position in shares of Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after buying an additional 198,292 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Parker-Hannifin by 9.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after acquiring an additional 172,064 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Parker-Hannifin by 66,111.8% in the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 2.8%

PH traded down $20.40 on Friday, reaching $711.50. The company's stock had a trading volume of 903,021 shares, compared to its average volume of 478,697. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $745.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The business's 50 day moving average is $691.28 and its 200 day moving average is $654.30.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.51 earnings per share. As a group, research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PH shares. Morgan Stanley upped their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Citigroup reiterated a "buy" rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Mizuho set a $785.00 target price on Parker-Hannifin in a research note on Friday, May 16th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $709.00 to $717.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $739.59.

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.