Tokio Marine Asset Management Co. Ltd. Increases Position in Parker-Hannifin Co. (NYSE:PH)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.6% during the fourth quarter, Holdings Channel reports. The fund owned 3,227 shares of the industrial products company’s stock after purchasing an additional 228 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $1,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Beaumont Asset Management L.L.C. raised its position in shares of Parker-Hannifin by 0.8% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock worth $1,415,000 after acquiring an additional 24 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Parker-Hannifin by 0.7% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. boosted its holdings in shares of Parker-Hannifin by 25.0% in the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after buying an additional 25 shares during the period. Private Trust Co. NA boosted its holdings in shares of Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after buying an additional 25 shares during the period. Finally, Keel Point LLC increased its position in shares of Parker-Hannifin by 3.1% during the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after acquiring an additional 25 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Andrew D. Ross sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 in the last 90 days. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Trading Up 0.3 %

PH traded up $1.84 during trading hours on Friday, reaching $551.22. The company’s stock had a trading volume of 57,491 shares, compared to its average volume of 578,303. The business’s 50-day moving average is $542.60 and its 200-day moving average is $476.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The stock has a market cap of $70.78 billion, a PE ratio of 27.20, a P/E/G ratio of 2.00 and a beta of 1.52. Parker-Hannifin Co. has a fifty-two week low of $312.36 and a fifty-two week high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.76 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PH shares. Truist Financial assumed coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. Barclays increased their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

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.