Parker-Hannifin Co. (NYSE:PH) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,924 shares of the industrial products company’s stock after buying an additional 1,357 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $15,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $665,188,000. Alphinity Investment Management Pty Ltd purchased a new position in shares of Parker-Hannifin during the third quarter worth about $310,208,000. FMR LLC grew its holdings in shares of Parker-Hannifin by 9.6% during the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Parker-Hannifin by 65,634.7% during the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock worth $101,149,000 after purchasing an additional 219,220 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Parker-Hannifin by 52.0% during the third quarter. Envestnet Asset Management Inc. now owns 506,406 shares of the industrial products company’s stock worth $197,255,000 after purchasing an additional 173,323 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of research reports. Mizuho raised their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Argus raised their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Evercore ISI lifted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Barclays lowered their price objective on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Wells Fargo & Company lowered their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $560.20.

Parker-Hannifin Trading Up 0.6 %

Shares of Parker-Hannifin stock opened at $529.83 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15. The company has a market capitalization of $68.10 billion, a P/E ratio of 24.97, a P/E/G ratio of 2.12 and a beta of 1.51. The business has a 50 day moving average price of $548.76 and a 200 day moving average price of $501.41.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the firm posted $5.93 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Co. will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

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 $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 30.73%.

About Parker-Hannifin

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.