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

Mitsubishi UFJ Trust & Banking Corp raised its position in Parker-Hannifin Co. (NYSE:PH) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,367 shares of the industrial products company’s stock after acquiring an additional 3,356 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of Parker-Hannifin worth $41,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Momentous Wealth Management Inc. purchased a new position 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% during the 4th quarter. Zions Bancorporation N.A. now owns 103 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 69 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of 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 raised its position in shares of Parker-Hannifin by 6.4% during the 4th quarter. Ashton Thomas Securities LLC now owns 770 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 46 shares in the last quarter. Finally, TD Asset Management Inc. boosted its holdings in Parker-Hannifin by 0.3% in the fourth quarter. TD Asset Management Inc. now owns 146,090 shares of the industrial products company’s stock valued at $92,918,000 after purchasing an additional 407 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 2.2 %

Shares of NYSE:PH opened at $636.82 on Thursday. Parker-Hannifin Co. has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. 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 firm’s 50-day simple moving average is $660.41 and its 200-day simple moving average is $654.11. 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.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced 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 of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio is currently 26.99%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PH shares. Barclays cut their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $736.65.

About Parker-Hannifin

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.