Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Parker-Hannifin Corp (NYSE:PH) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,717 shares of the industrial products company’s stock after purchasing an additional 1,061 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $26,000. Dubuque Bank & Trust Co. boosted its stake in shares of Parker-Hannifin by 97.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 78 shares in the last quarter. First Mercantile Trust Co. boosted its stake in shares of Parker-Hannifin by 58.3% during the 4th quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 70 shares in the last quarter. Athena Capital Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $32,000. Finally, Gemmer Asset Management LLC boosted its stake in shares of Parker-Hannifin by 162.3% during the 1st quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 125 shares in the last quarter. 81.56% of the stock is currently owned by institutional investors.
Shares of Parker-Hannifin stock opened at $176.08 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.52 and a quick ratio of 1.01. Parker-Hannifin Corp has a 1 year low of $140.82 and a 1 year high of $193.19. The company has a market cap of $23.43 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.70 and a beta of 1.47.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $0.88 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.76. This represents a $3.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 29.17%.
Several equities research analysts have recently commented on PH shares. Robert W. Baird set a $180.00 price target on Parker-Hannifin and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and decreased their price target for the stock from $181.00 to $171.00 in a research note on Friday, February 1st. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Morgan Stanley set a $172.00 price target on Parker-Hannifin and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Finally, Barclays boosted their price target on Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Parker-Hannifin presently has a consensus rating of “Hold” and a consensus price target of $181.24.
In other news, Director Candy M. Obourn sold 926 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $162.18, for a total transaction of $150,178.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew M. Weeks sold 4,520 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $176.70, for a total transaction of $798,684.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,445 shares of company stock valued at $1,814,218 over the last 90 days. Insiders own 1.12% of the company’s stock.
Parker-Hannifin Company Profile
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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