Daiichi Life Insurance Co. Ltd. Purchases 1,827 Shares of Parker-Hannifin Corporation $PH

Key Points

• Daiichi Life Insurance increased its Parker-Hannifin stake by 30.7% in the second quarter, purchasing 1,827 additional shares and bringing its holdings to 7,779 shares valued at approximately $7.6 million. Institutional investors own 82.44% of the company.
• Analysts remain broadly positive, with 17 Buy ratings and four Holds. Parker-Hannifin has a consensus “Moderate Buy” rating and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, up 9.8% year over year. The company also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of about 0.8%.

Daiichi Life Insurance Co. Ltd. boosted its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 30.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,779 shares of the industrial products company's stock after buying an additional 1,827 shares during the quarter. Daiichi Life Insurance Co. Ltd.'s holdings in Parker-Hannifin were worth $7,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC increased its holdings in Parker-Hannifin by 4.5% in the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock worth $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC raised its stake in Parker-Hannifin by 0.5% in the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after acquiring an additional 15 shares during the period. Acadian Asset Management LLC raised its stake in Parker-Hannifin by 26.2% in the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock valued at $484,000 after acquiring an additional 166 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after purchasing an additional 15 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, May 1st. UBS Group boosted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research report on Friday, August 7th. KeyCorp upped their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Susquehanna raised their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Stock Up 0.3%

PH stock opened at $1,002.90 on Friday. The stock has a 50-day simple moving average of $984.42 and a two-hundred day simple moving average of $948.75. Parker-Hannifin Corporation has a twelve month low of $715.37 and a twelve month high of $1,099.94. The firm has a market capitalization of $126.46 billion, a PE ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the prior year, the company posted $7.69 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin's dividend payout ratio (DPR) is 28.08%.

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.

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