Mitsubishi UFJ Trust & Banking Corp Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Mitsubishi UFJ Trust & Banking Corp boosted its position in Parker-Hannifin Co. (NYSE:PH) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 65,367 shares of the industrial products company’s stock after buying an additional 3,356 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Parker-Hannifin were worth $41,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Momentous Wealth Management Inc. acquired a new stake in Parker-Hannifin in the fourth quarter valued at $2,556,000. Zions Bancorporation N.A. boosted its position in shares of Parker-Hannifin by 202.9% in the 4th quarter. Zions Bancorporation N.A. now owns 103 shares of the industrial products company’s stock worth $66,000 after buying an additional 69 shares in the last quarter. TIAA Trust National Association grew its stake in Parker-Hannifin by 1.9% in the 4th quarter. TIAA Trust National Association now owns 26,459 shares of the industrial products company’s stock valued at $16,829,000 after acquiring an additional 486 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in Parker-Hannifin by 6.4% during the 4th quarter. Ashton Thomas Securities LLC now owns 770 shares of the industrial products company’s stock valued at $491,000 after acquiring an additional 46 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in Parker-Hannifin by 0.3% during the fourth quarter. TD Asset Management Inc. now owns 146,090 shares of the industrial products company’s stock worth $92,918,000 after acquiring an additional 407 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 2.2 %

PH stock opened at $636.82 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $81.97 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.85 and a beta of 1.50. The business has a fifty day simple moving average of $660.41 and a 200-day simple moving average of $654.11. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PH. UBS Group dropped their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. KeyCorp increased their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Finally, StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.