Meiji Yasuda Asset Management Co Ltd. Buys 1,006 Shares of Parker-Hannifin Corporation $PH

Meiji Yasuda Asset Management Co Ltd. boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 363.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,283 shares of the industrial products company’s stock after buying an additional 1,006 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Parker-Hannifin were worth $1,255,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter worth approximately $25,000. HFM Investment Advisors LLC boosted its stake in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the 4th quarter valued at $31,000. NFSG Corp grew its holdings in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its holdings in Parker-Hannifin by 1,133.3% in the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after buying an additional 34 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

PH opened at $1,014.87 on Tuesday. The firm has a market cap of $127.96 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The business’s fifty day moving average is $986.33 and its 200-day moving average is $949.08.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is currently 28.08%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Citigroup boosted their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,100.00.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.