BNP Paribas Acquires 556 Shares of Parker-Hannifin Co. (NYSE:PH)

BNP Paribas boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 59,828 shares of the industrial products company’s stock after purchasing an additional 556 shares during the period. Parker-Hannifin comprises approximately 1.6% of BNP Paribas’ portfolio, making the stock its 15th largest holding. BNP Paribas’ holdings in Parker-Hannifin were worth $37,859,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. FMR LLC grew its holdings in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after acquiring an additional 59,432 shares during the period. Boston Partners increased its position in shares of Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares during the period. Legal & General Group Plc boosted its holdings in shares of Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after purchasing an additional 12,615 shares during the period. Finally, AMF Tjanstepension AB grew its stake in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $706.92 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $90.99 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43. The business’s 50 day moving average price is $651.50 and its 200-day moving average price is $582.76. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $712.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.96 earnings per share. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Mizuho upped their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. Finally, UBS Group initiated coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Company 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.