Meiji Yasuda Life Insurance Co Buys Shares of 940 Parker-Hannifin Corporation $PH

Meiji Yasuda Life Insurance Co purchased a new position in Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 940 shares of the industrial products company’s stock, valued at approximately $919,000.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $10,163,362,000. Bank of America Corp DE bought a new stake in Parker-Hannifin during the second quarter worth approximately $3,273,507,000. Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,756,230,000. Deutsche Bank AG acquired a new position in Parker-Hannifin during the second quarter valued at approximately $987,587,000. Finally, Bank of New York Mellon Corp acquired a new position in Parker-Hannifin during the second quarter valued at approximately $712,222,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $995.24 on Friday. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a market cap of $125.45 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.59 and a beta of 1.12. The business’s 50 day moving average is $991.71 and its two-hundred day moving average is $950.48. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating 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 period in the prior year, the company earned $7.69 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts expect that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed 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 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 dividend payout ratio is currently 28.08%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PH shares. Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Sanford C. Bernstein raised their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Seventeen 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 target price of $1,100.00.

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.