Parker-Hannifin Corp. (PH) Stake Increased by Mizuho Asset Management Co. Ltd.
Mizuho Asset Management Co. Ltd. raised its stake in Parker-Hannifin Corp. (NYSE:PH) by 72.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,767 shares of the company’s stock after buying an additional 741 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Parker-Hannifin Corp. were worth $191,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. purchased a new stake in Parker-Hannifin Corp. during the first quarter worth $101,000. Signaturefd LLC boosted its stake in Parker-Hannifin Corp. by 2.7% in the second quarter. Signaturefd LLC now owns 1,307 shares of the company’s stock worth $141,000 after buying an additional 34 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in Parker-Hannifin Corp. by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,653 shares of the company’s stock worth $179,000 after buying an additional 31 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in Parker-Hannifin Corp. during the first quarter worth $202,000. Finally, Stephens Inc. AR purchased a new stake in Parker-Hannifin Corp. during the second quarter worth $212,000. Institutional investors own 80.67% of the company’s stock.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded up 0.89% during mid-day trading on Wednesday, hitting $123.11. The stock had a trading volume of 46,064 shares. Parker-Hannifin Corp. has a 52 week low of $83.32 and a 52 week high of $125.00. The stock has a 50-day moving average price of $122.32 and a 200 day moving average price of $114.44. The stock has a market cap of $16.48 billion, a P/E ratio of 20.90 and a beta of 1.53.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The business earned $2.96 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the business earned $1.73 EPS. Parker-Hannifin Corp.’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Corp. will post $6.80 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 29th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Thursday, August 25th. Parker-Hannifin Corp.’s payout ratio is presently 42.86%.
PH has been the topic of a number of recent research reports. Zacks Investment Research raised Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research note on Tuesday, June 21st. JPMorgan Chase & Co. lowered Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $110.00 to $98.00 in a research note on Monday, June 27th. Wells Fargo & Co. raised Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 30th. Barclays PLC increased their price target on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, August 5th. Finally, Citigroup Inc. increased their price target on Parker-Hannifin Corp. from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. Parker-Hannifin Corp. currently has an average rating of “Hold” and an average price target of $113.75.
In related news, VP Robert W. Bond sold 14,043 shares of Parker-Hannifin Corp. stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total value of $1,748,493.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine A. Suever sold 1,019 shares of Parker-Hannifin Corp. stock in a transaction on Friday, August 12th. The stock was sold at an average price of $123.29, for a total transaction of $125,632.51. The disclosure for this sale can be found here. 2.53% of the stock is currently owned by corporate insiders.
About Parker-Hannifin Corp.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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