Mirae Asset Global Investments Co. Ltd. Has $10.89 Million Holdings in Parker-Hannifin Corporation (NYSE:PH)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,102 shares of the industrial products company's stock after purchasing an additional 973 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Parker-Hannifin were worth $10,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Manhattan CO. LLC. increased its position in shares of Parker-Hannifin by 1.0% during the 4th 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% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock worth $689,000 after acquiring an additional 16 shares during the period. Becker Capital Management Inc. raised its position 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 worth $307,000 after acquiring an additional 16 shares in the last quarter. Northwest Wealth Management LLC lifted its holdings in Parker-Hannifin by 3.0% in the 4th quarter. Northwest Wealth Management LLC now owns 578 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 17 shares during the last quarter. Finally, Ellevest Inc. boosted its position in shares of Parker-Hannifin by 5.7% during the 4th quarter. Ellevest Inc. now owns 351 shares of the industrial products company's stock valued at $223,000 after purchasing an additional 19 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PH shares. Stifel Nicolaus upped their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a report on Monday, June 2nd. Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research report on Friday, May 16th. Finally, Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $719.41.

Parker-Hannifin Trading Up 1.2%

Shares of Parker-Hannifin stock traded up $8.27 on Wednesday, hitting $711.55. 447,645 shares of the company's stock traded hands, compared to its average volume of 697,642. The firm's 50-day moving average price is $654.51 and its two-hundred day moving average price is $642.67. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The stock has a market capitalization of $90.92 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.03 and a beta of 1.34. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $6.51 EPS. The firm's revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is 27.72%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is owned by insiders.

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.