Banque Cantonale Vaudoise Sells 828 Shares of Parker-Hannifin Co. (NYSE:PH)

Banque Cantonale Vaudoise lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 63.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485 shares of the industrial products company’s stock after selling 828 shares during the period. Banque Cantonale Vaudoise’s holdings in Parker-Hannifin were worth $306,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp lifted its holdings in shares of Parker-Hannifin by 4.9% in the 3rd quarter. SouthState Corp now owns 30,761 shares of the industrial products company’s stock worth $19,435,000 after acquiring an additional 1,436 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Parker-Hannifin by 4.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,399 shares of the industrial products company’s stock worth $884,000 after buying an additional 59 shares in the last quarter. Prospera Financial Services Inc grew its stake in Parker-Hannifin by 37.0% in the third quarter. Prospera Financial Services Inc now owns 1,347 shares of the industrial products company’s stock worth $853,000 after purchasing an additional 364 shares during the period. Verity & Verity LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter worth about $234,000. Finally, OneAscent Financial Services LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $785,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp lifted their target price on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen upped their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Truist Financial lifted their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Raymond James lifted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $691.40.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % 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. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Up 1.8 %

Shares of NYSE PH opened at $702.73 on Friday. Parker-Hannifin Co. has a 1-year low of $426.49 and a 1-year high of $711.60. The company has a 50-day moving average of $645.01 and a two-hundred day moving average of $579.25. The company has a market cap of $90.46 billion, a PE ratio of 31.74, a P/E/G ratio of 2.78 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the business posted $5.96 earnings per share. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is presently 29.45%.

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.