Parker-Hannifin Corporation $PH Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Parker-Hannifin Corporation (NYSE:PH) by 4.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 260,342 shares of the industrial products company’s stock after buying an additional 10,752 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Parker-Hannifin worth $197,361,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Berkshire Asset Management LLC PA lifted its position in shares of Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after acquiring an additional 13 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in Parker-Hannifin by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 13 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after purchasing an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC boosted its stake in shares of Parker-Hannifin by 0.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 14 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Parker-Hannifin by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,664 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,551 shares of company stock worth $12,117,502 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Up 0.3%

Shares of NYSE:PH opened at $1,014.95 on Friday. The stock has a 50-day simple moving average of $944.58 and a 200-day simple moving average of $842.02. The stock has a market capitalization of $128.10 billion, a P/E ratio of 37.01, a PEG ratio of 3.26 and a beta of 1.25. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the company posted $6.53 earnings per share. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio is 26.26%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PH. Morgan Stanley upped their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday. Susquehanna reissued a “positive” rating and set a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Jefferies Financial Group upped their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $995.37.

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.