Meiji Yasuda Life Insurance Co Buys New Holdings in Parker-Hannifin Corporation $PH

Meiji Yasuda Life Insurance Co bought a new position in Parker-Hannifin Corporation (NYSE:PH) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 940 shares of the industrial products company’s stock, valued at approximately $919,000.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at $10,163,362,000. Bank of America Corp DE boosted its position in shares of Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after acquiring an additional 22,305 shares in the last quarter. Capital World Investors increased its stake in Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the period. Morgan Stanley increased its stake in Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after acquiring an additional 22,367 shares during the period. Finally, Norges Bank acquired a new position in Parker-Hannifin in the fourth quarter worth about $1,756,230,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PH shares. Susquehanna increased their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a research note on Friday, August 7th. Wells Fargo & Company lowered their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Evercore set a $1,064.00 price objective on Parker-Hannifin in a report on Monday, May 11th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

PH opened at $995.24 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The stock has a market capitalization of $125.45 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12. The company’s 50 day simple moving average is $991.71 and its 200-day simple moving average is $950.48. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $2.00 per share. The ex-dividend date is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is presently 28.08%.

Parker-Hannifin Profile

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.