Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Holdings in Parker-Hannifin Corporation $PH

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 312,525 shares of the industrial products company’s stock, valued at approximately $305,628,000.

Other large investors also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new stake in Parker-Hannifin in the 4th quarter valued at $1,253,000. Truist Financial Corp raised its holdings in shares of Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock worth $153,687,000 after acquiring an additional 4,673 shares during the period. Shepherd Street Advisors LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $1,736,000. Jefferies Financial Group Inc. acquired a new position in shares of Parker-Hannifin during the 4th quarter valued at about $11,434,000. Finally, Horizon Investments LLC grew its holdings in shares of Parker-Hannifin by 78.8% in the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company’s stock valued at $7,760,000 after purchasing an additional 3,892 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. KeyCorp lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Susquehanna lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Trading Down 0.1%

NYSE PH opened at $1,055.30 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The stock has a market capitalization of $133.06 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The firm’s 50-day moving average is $974.79 and its two-hundred day moving average is $946.50. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Parker-Hannifin Company 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.