BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 309 Shares of Parker-Hannifin Co. (NYSE:PH)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,771 shares of the industrial products company’s stock after acquiring an additional 309 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Parker-Hannifin were worth $6,174,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PH. West Branch Capital LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank grew its stake in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Fortitude Family Office LLC boosted its stake in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE:PH opened at $706.87 on Monday. The company has a 50 day moving average of $647.32 and a 200-day moving average of $580.73. Parker-Hannifin Co. has a one year low of $426.49 and a one year high of $711.60. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company earned $5.96 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current 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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Evercore ISI lifted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective on the stock. in a research note on Monday, November 18th. Truist Financial raised their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $691.40.

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.