Lazard Freres Gestion S.A.S. Lowers Position in Parker-Hannifin Co. (NYSE:PH)

Lazard Freres Gestion S.A.S. decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 7.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 251,184 shares of the industrial products company’s stock after selling 19,394 shares during the period. Parker-Hannifin comprises about 3.4% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 11th largest holding. Lazard Freres Gestion S.A.S. owned about 0.20% of Parker-Hannifin worth $158,703,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PH. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC purchased a new position in Parker-Hannifin during the third quarter valued at $25,000. Bangor Savings Bank raised its stake in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth $39,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

PH stock traded down $0.39 during trading on Tuesday, reaching $704.03. The stock had a trading volume of 13,502 shares, compared to its average volume of 641,207. The stock’s 50 day moving average is $649.47 and its two-hundred day moving average is $581.74. The firm has a market cap of $90.62 billion, a PE ratio of 31.82, a PEG ratio of 2.85 and a beta of 1.43. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $712.42. 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 posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the firm posted $5.96 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

PH has been the topic of a number of analyst reports. KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Raymond James increased their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. TD Cowen upped their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial lifted their target price on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $691.40.

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.