Parker-Hannifin Corporation (NYSE:PH) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,325 shares of the industrial products company's stock after buying an additional 3,419 shares during the period. Asset Management One Co. Ltd.'s holdings in Parker-Hannifin were worth $33,021,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. FFT Wealth Management LLC grew its holdings in Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC grew its holdings in Parker-Hannifin by 2.9% in the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after purchasing an additional 15 shares during the period. First Manhattan CO. LLC. grew its holdings in Parker-Hannifin by 1.0% in the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 15 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in Parker-Hannifin by 1.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock valued at $689,000 after purchasing an additional 16 shares during the period. Finally, Becker Capital Management Inc. grew its holdings in Parker-Hannifin by 3.4% in the fourth quarter. Becker Capital Management Inc. now owns 482 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Truist Financial decreased their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a research note on Monday, June 2nd. Citigroup decreased their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $719.71.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Up 2.9%

Shares of PH stock traded up $19.71 on Thursday, hitting $693.22. The stock had a trading volume of 844,157 shares, compared to its average volume of 701,895. The firm has a market capitalization of $88.58 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 3.15 and a beta of 1.34. The stock's 50 day moving average is $643.31 and its 200-day moving average is $642.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $6.51 earnings per share. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.04%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Parker-Hannifin 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.