Mitsubishi UFJ Asset Management Co. Ltd. Acquires 8,887 Shares of Parker-Hannifin Corporation $PH

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,229 shares of the industrial products company’s stock after buying an additional 8,887 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $240,741,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Procyon Advisors LLC raised its holdings in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the period. Capital World Investors increased its position in Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after buying an additional 169,073 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $104,040,000. California Public Employees Retirement System boosted its holdings in Parker-Hannifin by 51.3% in the third quarter. California Public Employees Retirement System now owns 336,247 shares of the industrial products company’s stock worth $254,926,000 after acquiring an additional 114,008 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $86,046,000. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Barclays upped their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Citigroup lifted their price objective on shares of Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Finally, iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a report on Thursday, January 29th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.45.

Parker-Hannifin Stock Up 3.4%

Parker-Hannifin stock opened at $902.28 on Thursday. Parker-Hannifin Corporation has a fifty-two week low of $616.56 and a fifty-two week high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm’s 50-day simple moving average is $943.01 and its 200 day simple moving average is $905.37. The stock has a market cap of $113.89 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.80 and a beta of 1.18.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business posted $6.94 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Research analysts predict that Parker-Hannifin Corporation will post 31.1 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date is Friday, May 8th. Parker-Hannifin’s dividend payout ratio is 26.56%.

Insiders Place Their Bets

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.32% of the company’s stock.

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.