Ecofi Investissements SA Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Ecofi Investissements SA acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,500 shares of the industrial products company’s stock, valued at approximately $741,000.

Several other large investors also recently made changes to their positions in the stock. TD Asset Management Inc increased its position in Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after buying an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Parker-Hannifin by 8.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after acquiring an additional 1,802 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Parker-Hannifin in the 4th quarter valued at $4,068,000. Concurrent Investment Advisors LLC lifted its holdings in Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after purchasing an additional 1,819 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after purchasing an additional 6,029 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Down 0.4 %

Shares of NYSE:PH opened at $632.77 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $639.87. The company has a market capitalization of $81.42 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.54 and a beta of 1.43. The company has a fifty day moving average of $578.64 and a 200-day moving average of $551.02.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $6.08 earnings per share. On average, equities analysts predict that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is 30.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PH shares. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft increased their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Raymond James raised their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

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.