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

Asset Management One Co. Ltd. boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,906 shares of the industrial products company’s stock after buying an additional 838 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Parker-Hannifin were worth $32,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PH. Grove Bank & Trust lifted its position in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its position in Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock valued at $1,723,000 after acquiring an additional 16 shares during the last quarter. Everpar Advisors LLC lifted its position in Parker-Hannifin by 1.3% in the fourth quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after acquiring an additional 17 shares during the last quarter. LVW Advisors LLC lifted its position in Parker-Hannifin by 0.9% in the fourth quarter. LVW Advisors LLC now owns 1,969 shares of the industrial products company’s stock valued at $1,252,000 after acquiring an additional 17 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. lifted its position in Parker-Hannifin by 0.7% in the fourth quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company’s stock valued at $1,603,000 after acquiring an additional 18 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, TD Cowen upped their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $729.18.

Parker-Hannifin Trading Up 0.9 %

Shares of PH opened at $700.13 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $664.39 and its two-hundred day moving average is $638.17. Parker-Hannifin Co. has a twelve month low of $492.71 and a twelve month high of $718.44. The firm has a market capitalization of $90.12 billion, a P/E ratio of 28.98, a PEG ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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%. On average, research analysts predict that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

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 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.