Parker-Hannifin Corporation $PH Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Parker-Hannifin Corporation (NYSE:PH) by 4.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 260,342 shares of the industrial products company’s stock after acquiring an additional 10,752 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $197,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ING Groep NV purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $26,398,000. Quadrant Capital Group LLC raised its holdings in Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after acquiring an additional 604 shares in the last quarter. Procyon Advisors LLC boosted its stake in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after acquiring an additional 5,066,179 shares during the last quarter. Wilkinson Global Asset Management LLC grew its holdings in Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after acquiring an additional 10,653 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 56,103 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the completion of the transaction, the vice president owned 6,534 shares in the company, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,551 shares of company stock worth $12,117,502 over the last three months. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Morgan Stanley boosted their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a report on Tuesday. BNP Paribas Exane initiated coverage on Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Trading Up 0.3%

Shares of NYSE PH opened at $1,014.95 on Friday. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,034.96. The company has a market cap of $128.10 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 3.26 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $944.58 and its 200 day simple moving average is $842.02.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company earned $6.53 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be given a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.