Daiichi Life Insurance Co. Ltd. Increases Stock Position in Parker-Hannifin Corporation $PH

Daiichi Life Insurance Co. Ltd. raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 30.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,779 shares of the industrial products company’s stock after purchasing an additional 1,827 shares during the quarter. Daiichi Life Insurance Co. Ltd.’s holdings in Parker-Hannifin were worth $7,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. HFM Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX bought a new position in Parker-Hannifin in the third quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new position in Parker-Hannifin in the fourth quarter valued at $31,000. NFSG Corp raised its position in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 17 shares in the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $35,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PH. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Susquehanna lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research note on Monday, May 11th. Finally, Citigroup increased their target price 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Trading Up 0.3%

Shares of PH stock opened at $1,002.90 on Friday. The business has a 50-day moving average of $984.42 and a 200 day moving average of $948.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The stock has a market capitalization of $126.46 billion, a PE ratio of 35.20, a P/E/G ratio of 2.61 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the firm earned $7.69 EPS. The business’s quarterly 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. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

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.