Lbp Am Sa Has $389,000 Stock Position in Parker-Hannifin Corporation (NYSE:PH)

LBP AM SA cut its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 76.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640 shares of the industrial products company's stock after selling 2,091 shares during the period. LBP AM SA's holdings in Parker-Hannifin were worth $389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC raised its holdings in Parker-Hannifin by 17.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 818 shares of the industrial products company's stock valued at $497,000 after acquiring an additional 121 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Parker-Hannifin by 116.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 91 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 49 shares in the last quarter. Greenleaf Trust raised its holdings in Parker-Hannifin by 3.5% in the 1st quarter. Greenleaf Trust now owns 3,033 shares of the industrial products company's stock valued at $1,844,000 after acquiring an additional 102 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Parker-Hannifin by 10.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,818 shares of the industrial products company's stock valued at $1,105,000 after purchasing an additional 169 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Parker-Hannifin by 4.5% in the 1st quarter. Stratos Wealth Partners LTD. now owns 20,428 shares of the industrial products company's stock valued at $12,417,000 after purchasing an additional 888 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PH. Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Mizuho set a $785.00 price target on Parker-Hannifin in a research note on Friday, May 16th. Citigroup decreased their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $726.12.

Parker-Hannifin Trading Up 0.1%

Shares of NYSE PH traded up $0.83 during trading on Friday, reaching $715.13. The company had a trading volume of 340,176 shares, compared to its average volume of 695,966. The company's fifty day moving average price is $672.33 and its 200-day moving average price is $646.05. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $720.90. The stock has a market cap of $91.38 billion, a P/E ratio of 27.54, a PEG ratio of 3.07 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last released 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 EPS. The business's revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin's payout ratio is currently 27.72%.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by corporate insiders.

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.