Daiwa Securities Group Inc. Increases Position in Parker-Hannifin Co. (NYSE:PH)

Daiwa Securities Group Inc. raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,158 shares of the industrial products company’s stock after purchasing an additional 260 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Parker-Hannifin were worth $9,747,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PH. Tyche Wealth Partners LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Parker-Hannifin by 11.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,402 shares of the industrial products company’s stock valued at $30,131,000 after buying an additional 6,670 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in shares of Parker-Hannifin by 5.4% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 3,337 shares of the industrial products company’s stock valued at $1,537,000 after acquiring an additional 170 shares during the period. Main Street Research LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $21,470,000. Finally, United Asset Strategies Inc. grew its holdings in shares of Parker-Hannifin by 1.5% in the 4th quarter. United Asset Strategies Inc. now owns 22,217 shares of the industrial products company’s stock worth $10,236,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PH. 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. The Goldman Sachs Group restated a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Truist Financial started coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 price target on the stock. KeyCorp raised their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus increased their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Stock Performance

NYSE:PH opened at $538.09 on Friday. Parker-Hannifin Co. has a fifty-two week low of $309.89 and a fifty-two week high of $570.15. The firm’s 50 day moving average is $540.09 and its two-hundred day moving average is $471.11. The company has a market cap of $69.10 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.98 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the firm posted $4.76 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Analysts expect that Parker-Hannifin Co. will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s payout ratio is currently 29.31%.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark J. Hart sold 5,197 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,079 shares of company stock valued at $6,099,566. Corporate insiders own 1.03% of the company’s stock.

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.