Oddo BHF Asset Management Sas Invests $2.52 Million in Parker-Hannifin Co. (NYSE:PH)

Oddo BHF Asset Management Sas purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,990 shares of the industrial products company's stock, valued at approximately $2,521,000.

Several other hedge funds have also added to or reduced their stakes in PH. CVA Family Office LLC grew its position in shares of Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 16 shares during the last quarter. Sonoma Private Wealth LLC increased its position in Parker-Hannifin by 2.9% during the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company's stock worth $421,000 after buying an additional 19 shares during the period. W Advisors LLC lifted its holdings in shares of Parker-Hannifin by 3.4% during the third quarter. W Advisors LLC now owns 581 shares of the industrial products company's stock worth $367,000 after buying an additional 19 shares in the last quarter. Simmons Bank boosted its position in shares of Parker-Hannifin by 0.7% in the third quarter. Simmons Bank now owns 2,753 shares of the industrial products company's stock valued at $1,739,000 after acquiring an additional 19 shares during the period. Finally, CFS Investment Advisory Services LLC grew its stake in shares of Parker-Hannifin by 3.4% in the third quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company's stock valued at $368,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Trading Down 1.6 %

PH stock traded down $10.75 during mid-day trading on Friday, reaching $671.82. The company's stock had a trading volume of 626,889 shares, compared to its average volume of 634,676. The company has a market cap of $86.48 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $440.00 and a 12 month high of $712.42. The business's 50 day moving average price is $668.62 and its 200 day moving average price is $595.71. 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 - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.96 earnings per share. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. Parker-Hannifin's payout ratio is presently 29.45%.

Insider Buying and Selling

In other news, VP Joseph R. Leonti sold 5,877 shares of the company's 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 transaction, the vice president now owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company's stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research note on Monday, August 19th. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Raymond James boosted their target price 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. Mizuho lifted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $709.65.

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.