Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 132,023 shares of the industrial products company's stock after buying an additional 12,930 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Parker-Hannifin worth $59,586,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Beaumont Asset Management L.L.C. grew its stake in shares of Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company's stock valued at $1,415,000 after purchasing an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company's stock worth $1,417,000 after acquiring an additional 25 shares in the last quarter. M&R Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 25 shares during the period. Private Trust Co. NA boosted its stake in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company's stock valued at $1,730,000 after purchasing an additional 25 shares in the last quarter. Finally, Keel Point LLC grew its holdings in shares of Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company's stock worth $388,000 after purchasing an additional 25 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KeyCorp boosted their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. TD Cowen raised shares of Parker-Hannifin from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an "overweight" rating for the company in a research note on Monday, May 6th. Finally, Barclays lowered their price target on shares of Parker-Hannifin from $625.00 to $618.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $548.53.

Parker-Hannifin Trading Up 0.7 %

Shares of Parker-Hannifin stock traded up $3.87 during trading on Wednesday, hitting $553.27. 581,167 shares of the company were exchanged, compared to its average volume of 599,953. The firm has a market capitalization of $71.12 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.51. The firm's fifty day moving average price is $547.92 and its 200 day moving average price is $492.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 1-year low of $319.14 and a 1-year high of $570.15.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $5.93 earnings per share. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 24.79 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $1.63 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin's payout ratio is currently 30.73%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Jay Reidy sold 572 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company's stock, valued at $2,305,170. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company's stock.

Parker-Hannifin Company 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.