Union Bancaire Privee UBP SA Has $34.60 Million Position in Parker-Hannifin Co. (NYSE:PH)

Union Bancaire Privee UBP SA grew its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,876 shares of the industrial products company's stock after purchasing an additional 5,593 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Parker-Hannifin were worth $34,604,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in Parker-Hannifin by 5.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,896 shares of the industrial products company's stock worth $1,206,000 after acquiring an additional 97 shares during the last quarter. Empowered Funds LLC boosted its stake in Parker-Hannifin by 15.2% during the 4th quarter. Empowered Funds LLC now owns 2,879 shares of the industrial products company's stock worth $1,831,000 after acquiring an additional 380 shares during the last quarter. Savant Capital LLC boosted its stake in Parker-Hannifin by 8.1% during the 4th quarter. Savant Capital LLC now owns 3,710 shares of the industrial products company's stock worth $2,359,000 after acquiring an additional 277 shares during the last quarter. Finally, Sapient Capital LLC boosted its stake in Parker-Hannifin by 2.5% during the 4th quarter. Sapient Capital LLC now owns 2,713 shares of the industrial products company's stock worth $1,726,000 after acquiring an additional 65 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 business's stock in a transaction on 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. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PH has been the topic of several recent analyst reports. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Truist Financial reduced their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Finally, Argus set a $680.00 price target on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Stock Down 2.0%

Shares of NYSE PH traded down $13.14 during midday trading on Friday, reaching $653.73. The company's stock had a trading volume of 682,749 shares, compared to its average volume of 705,108. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The stock has a market capitalization of $83.53 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 2.85 and a beta of 1.34. The stock has a 50 day simple moving average of $628.39 and a 200-day simple moving average of $643.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the company earned $6.51 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

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.