Tokio Marine Asset Management Co. Ltd. Has $2.28 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Tokio Marine Asset Management Co. Ltd. increased its position in Parker-Hannifin Co. (NYSE:PH) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,611 shares of the industrial products company’s stock after purchasing an additional 49 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $2,282,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Kingsview Wealth Management LLC raised its stake in shares of Parker-Hannifin by 3.4% in the first quarter. Kingsview Wealth Management LLC now owns 1,755 shares of the industrial products company’s stock worth $976,000 after purchasing an additional 58 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Parker-Hannifin by 4.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 882 shares of the industrial products company’s stock valued at $490,000 after buying an additional 41 shares during the last quarter. Banco Santander S.A. bought a new position in Parker-Hannifin during the 1st quarter valued at $6,038,000. Jupiter Asset Management Ltd. purchased a new position in Parker-Hannifin during the 1st quarter worth $301,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Parker-Hannifin by 1.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 75,137 shares of the industrial products company’s stock worth $41,717,000 after acquiring an additional 822 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.2 %

Shares of NYSE PH opened at $697.63 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $89.80 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.85 and a beta of 1.43. Parker-Hannifin Co. has a 52 week low of $425.20 and a 52 week high of $711.60. The business has a 50-day simple moving average of $631.19 and a two-hundred day simple moving average of $573.08.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $5.96 earnings per share. Research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is currently 29.45%.

Insider Buying and Selling

In related news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,927 shares of company stock worth $12,807,811. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. UBS Group assumed coverage on Parker-Hannifin in a report on Wednesday. They issued a “buy” rating and a $842.00 target price for the company. Wells Fargo & Company lifted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. KeyCorp increased their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Evercore ISI lifted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

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.