Meiji Yasuda Asset Management Co Ltd. Has $1.14 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Meiji Yasuda Asset Management Co Ltd. reduced its position in Parker-Hannifin Co. (NYSE:PH) by 68.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,799 shares of the industrial products company’s stock after selling 3,979 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Parker-Hannifin were worth $1,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $30,000. Prestige Wealth Management Group LLC grew its stake in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire bought a new stake in Parker-Hannifin in the fourth quarter valued at about $35,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin during the fourth quarter worth about $40,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. 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 research note on Friday, January 31st. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup began 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. Finally, Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Trading Down 2.2 %

Shares of NYSE:PH opened at $636.82 on Thursday. The company’s 50-day moving average price is $660.41 and its two-hundred day moving average price is $654.11. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market capitalization of $81.97 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s payout ratio is 26.99%.

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.