Union Bancaire Privee UBP SA Trims Stock Position in Parker-Hannifin Corporation $PH

Union Bancaire Privee UBP SA trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,740 shares of the industrial products company’s stock after selling 4,591 shares during the quarter. Parker-Hannifin comprises 0.8% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 23rd biggest position. Union Bancaire Privee UBP SA’s holdings in Parker-Hannifin were worth $50,751,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price on the stock. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Citigroup boosted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $995.37.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 10,063 shares of company stock valued at $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $899.19 on Friday. 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 has a market cap of $113.50 billion, a P/E ratio of 32.79, a P/E/G ratio of 2.94 and a beta of 1.23. The stock has a 50-day moving average of $958.55 and a two-hundred day moving average of $861.86. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96.

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

Parker-Hannifin Dividend Announcement

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

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.