Kepler Cheuvreux Suisse SA Makes New Investment in Parker-Hannifin Corporation $PH

Kepler Cheuvreux Suisse SA bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,871 shares of the industrial products company’s stock, valued at approximately $4,451,000.

Several other large investors have also made changes to their positions in the company. ING Groep NV bought a new stake in Parker-Hannifin during the 3rd quarter worth about $26,398,000. Quadrant Capital Group LLC raised its stake in shares of Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after acquiring an additional 604 shares during the last quarter. Procyon Advisors LLC lifted its position in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its position in shares of Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after purchasing an additional 10,653 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Parker-Hannifin by 54.7% during the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after purchasing an additional 56,103 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Barclays increased their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. KeyCorp restated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Trading Up 1.9%

Shares of NYSE PH opened at $949.78 on Wednesday. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The firm has a market capitalization of $119.88 billion, a P/E ratio of 34.64, a P/E/G ratio of 3.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The company’s 50 day simple moving average is $958.04 and its 200 day simple moving average is $856.23.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.53 EPS. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Insiders Place Their Bets

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Company Profile

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.