Asset Management One Co. Ltd. Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Asset Management One Co. Ltd. raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,906 shares of the industrial products company’s stock after purchasing an additional 838 shares during the period. Asset Management One Co. Ltd.’s holdings in Parker-Hannifin were worth $32,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avestar Capital LLC lifted its stake in shares of Parker-Hannifin by 39.1% during the fourth quarter. Avestar Capital LLC now owns 897 shares of the industrial products company’s stock valued at $571,000 after buying an additional 252 shares during the period. HMS Capital Management LLC lifted its stake in shares of Parker-Hannifin by 1.2% during the fourth quarter. HMS Capital Management LLC now owns 3,167 shares of the industrial products company’s stock valued at $2,014,000 after buying an additional 38 shares during the period. Ingalls & Snyder LLC lifted its stake in shares of Parker-Hannifin by 0.3% during the fourth quarter. Ingalls & Snyder LLC now owns 8,611 shares of the industrial products company’s stock valued at $5,477,000 after buying an additional 23 shares during the period. Van ECK Associates Corp purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $13,682,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Parker-Hannifin by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 56,711 shares of the industrial products company’s stock valued at $35,701,000 after buying an additional 796 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group increased their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. TD Cowen increased their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup assumed coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective for the company. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Price Performance

PH opened at $700.13 on Friday. The firm has a market cap of $90.12 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The company has a fifty day simple moving average of $664.39 and a 200 day simple moving average of $638.17.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts expect that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

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.