Meiji Yasuda Asset Management Co Ltd. Has $1.25 Million Stock Position in Parker-Hannifin Corporation $PH

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 363.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,283 shares of the industrial products company’s stock after acquiring an additional 1,006 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Parker-Hannifin were worth $1,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HFM Investment Advisors LLC grew its position in Parker-Hannifin by 1,000.0% in the fourth 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 in the last quarter. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the 3rd quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin during the 4th quarter worth about $31,000. NFSG Corp lifted its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares in the last quarter. Finally, Bell Investment Advisors Inc acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $35,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PH shares. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wells Fargo & Company decreased their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Citigroup boosted their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen research 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 has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Trading Up 1.3%

Shares of NYSE:PH opened at $1,014.87 on Tuesday. Parker-Hannifin Corporation has a 52-week low of $715.37 and a 52-week high of $1,099.94. The company has a market capitalization 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. The company has a 50-day simple moving average of $986.33 and a 200 day simple moving average of $949.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

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

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend 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.