Candriam S.C.A. Sells 1,287 Shares of Parker-Hannifin Corporation $PH

Candriam S.C.A. lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 57,624 shares of the industrial products company’s stock after selling 1,287 shares during the quarter. Candriam S.C.A.’s holdings in Parker-Hannifin were worth $43,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC raised its stake in shares of Parker-Hannifin by 1.3% in the second quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after buying an additional 14 shares during the period. High Net Worth Advisory Group LLC raised its stake in Parker-Hannifin by 0.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after acquiring an additional 14 shares during the period. Sivia Capital Partners LLC lifted its holdings in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the last quarter. Empowered Funds LLC boosted its position in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares during the period. Finally, Meadow Creek Wealth Advisors LLC boosted its position in Parker-Hannifin by 3.6% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Rachid Bendali sold 1,437 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total value of $1,225,746.63. Following the completion of the transaction, the vice president directly owned 2,714 shares in the company, valued at approximately $2,315,014.86. This represents a 34.62% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,769 shares of company stock worth $9,649,169. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $977.70 on Monday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $989.13. The stock has a fifty day moving average of $908.41 and a 200 day moving average of $816.23. 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 firm has a market capitalization of $123.41 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 3.33 and a beta of 1.25.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Stifel Nicolaus increased their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, Susquehanna restated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin 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.