Mitsubishi UFJ Asset Management Co. Ltd. Purchases 16,034 Shares of Parker-Hannifin Co. (NYSE:PH)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Parker-Hannifin Co. (NYSE:PH) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 209,123 shares of the industrial products company’s stock after purchasing an additional 16,034 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Parker-Hannifin worth $133,371,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PH shares. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report 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 company a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. Finally, StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Down 1.7 %

Shares of Parker-Hannifin stock opened at $626.76 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. Parker-Hannifin Co. has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a market cap of $80.68 billion, a P/E ratio of 25.94, a PEG ratio of 2.85 and a beta of 1.50. The company’s fifty day simple moving average is $659.79 and its two-hundred day simple moving average is $653.92.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is presently 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.