Nissay Asset Management Corp Japan Increases Stock Position in Parker-Hannifin Corporation $PH

Nissay Asset Management Corp Japan lifted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,022 shares of the industrial products company’s stock after buying an additional 684 shares during the period. Nissay Asset Management Corp Japan’s holdings in Parker-Hannifin were worth $16,650,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PH. Fideuram Asset Management Ireland dac acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,253,000. Truist Financial Corp grew its position in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after buying an additional 4,673 shares during the period. Shepherd Street Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter worth about $1,736,000. BNP Paribas increased its holdings in Parker-Hannifin by 4.1% in the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock valued at $52,717,000 after buying an additional 2,121 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $11,434,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 value of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PH has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Evercore set a $1,064.00 price objective on Parker-Hannifin in a report on Monday, May 11th. Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, UBS Group upped their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Trading Down 1.6%

Shares of 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 firm has a 50 day simple moving average of $991.71 and a 200-day simple moving average of $950.48. 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 cap of $125.45 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.59 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company earned $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. Equities analysts forecast that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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