Banque Cantonale Vaudoise Acquires 365 Shares of Parker-Hannifin Co. (NYSE:PH)

Banque Cantonale Vaudoise raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 89.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 772 shares of the industrial products company’s stock after buying an additional 365 shares during the period. Banque Cantonale Vaudoise’s holdings in Parker-Hannifin were worth $429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sachetta LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in Parker-Hannifin during the 4th quarter worth $26,000. First United Bank & Trust acquired a new position in Parker-Hannifin during the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. bought a new stake in Parker-Hannifin during the fourth quarter valued at about $30,000. Finally, Rise Advisors LLC bought a new position in shares of Parker-Hannifin in the first quarter worth about $38,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE:PH opened at $504.16 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $534.48 and a 200 day moving average price of $513.28. The firm has a market capitalization of $64.80 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $5.93 EPS. Research analysts anticipate that Parker-Hannifin Co. will post 24.84 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were issued a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.29%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Analyst Ratings Changes

Several brokerages recently weighed in on PH. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $566.33.

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.