Parker-Hannifin Corporation (NYSE:PH) Stock Holdings Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Parker-Hannifin Corporation by 11.9%, owning a total of 234,065 shares valued at approximately $142 million by the end of the last quarter.
• Parker-Hannifin reported earnings of $7.69 per share, exceeding analyst expectations of $7.08, with quarterly revenue of $5.24 billion, showing a year-over-year increase of 1.1%.
• The company's stock currently has a market capitalization of $92.74 billion and an average price target of $739.59 based on multiple analysts' ratings, indicating a consensus of "Moderate Buy."

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 234,065 shares of the industrial products company's stock after purchasing an additional 24,942 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Parker-Hannifin worth $142,287,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after buying an additional 101 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Parker-Hannifin by 0.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after buying an additional 55 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin in the fourth quarter valued at $25,000. FIL Ltd lifted its stake in Parker-Hannifin by 36.3% in the fourth quarter. FIL Ltd now owns 132,781 shares of the industrial products company's stock valued at $84,453,000 after buying an additional 35,344 shares during the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $1,065,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Up 0.3%

Shares of NYSE:PH traded up $2.32 during midday trading on Friday, reaching $727.68. The company had a trading volume of 819,698 shares, compared to its average volume of 660,415. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.19. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $745.34. The firm has a market cap of $92.98 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37. The company has a fifty day simple moving average of $697.59 and a two-hundred day simple moving average of $656.35.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the company posted $6.77 EPS. Parker-Hannifin's revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on PH shares. Stifel Nicolaus raised their price target on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday. Barclays reissued an "overweight" rating and set a $776.00 price target (up from $750.00) on shares of Parker-Hannifin in a report on Friday. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Citigroup reissued a "buy" rating and set a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $756.06.

About Parker-Hannifin

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.