Sompo Asset Management Co. Ltd. Makes New $706,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Sompo Asset Management Co. Ltd. bought a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,110 shares of the industrial products company's stock, valued at approximately $706,000.

A number of other institutional investors have also made changes to their positions in PH. Franklin Resources Inc. raised its holdings in Parker-Hannifin by 39.2% in the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Howard Capital Management Group LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth $23,390,000. SG Americas Securities LLC increased its holdings in Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after buying an additional 21,521 shares during the last quarter. Columbus Macro LLC increased its position in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after purchasing an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in Parker-Hannifin by 15.5% in the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after buying an additional 25,605 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $2.28 during trading on Monday, hitting $595.74. The stock had a trading volume of 275,014 shares, compared to its average volume of 714,196. The business has a fifty day moving average of $607.62 and a two-hundred day moving average of $646.88. The firm has a market cap of $76.68 billion, a P/E ratio of 24.71, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 29.80%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp reduced their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. UBS Group cut their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $705.35.

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.