Groupama Asset Managment Raises Position in Parker-Hannifin Corporation $PH

Groupama Asset Managment lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 9.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 166,089 shares of the industrial products company’s stock after buying an additional 14,836 shares during the period. Groupama Asset Managment’s holdings in Parker-Hannifin were worth $125,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth $29,000. Ameriflex Group Inc. increased its holdings in shares of Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of Parker-Hannifin by 164.7% in the third quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Parker-Hannifin in the third quarter worth $36,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.2%

PH stock opened at $912.92 on Thursday. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The business’s 50-day moving average is $958.70 and its two-hundred day moving average is $861.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company has a market cap of $115.23 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 2.88 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same quarter in the prior year, the company posted $6.53 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s payout ratio is 26.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. BNP Paribas Exane assumed coverage on Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price for the company. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $995.37.

Insider Buying and Selling at Parker-Hannifin

In other news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Dinu J. Parel sold 1,316 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,063 shares of company stock valued at $9,891,214 in the last quarter. Insiders own 0.32% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.