Tokio Marine Asset Management Co. Ltd. Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,746 shares of the industrial products company’s stock after buying an additional 135 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $2,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Insight Partners LLC boosted its position in Parker-Hannifin by 9.6% in the 4th quarter. Capital Insight Partners LLC now owns 1,314 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 115 shares in the last quarter. Costello Asset Management INC lifted its stake in shares of Parker-Hannifin by 12.7% in the 4th quarter. Costello Asset Management INC now owns 5,238 shares of the industrial products company’s stock valued at $3,332,000 after purchasing an additional 589 shares during the period. Independence Bank of Kentucky boosted its holdings in Parker-Hannifin by 26.1% during the fourth quarter. Independence Bank of Kentucky now owns 87 shares of the industrial products company’s stock worth $55,000 after buying an additional 18 shares in the last quarter. Clear Creek Financial Management LLC grew its position in Parker-Hannifin by 14.0% during the fourth quarter. Clear Creek Financial Management LLC now owns 977 shares of the industrial products company’s stock valued at $621,000 after buying an additional 120 shares during the period. Finally, Austin Private Wealth LLC increased its holdings in Parker-Hannifin by 5.6% in the fourth quarter. Austin Private Wealth LLC now owns 806 shares of the industrial products company’s stock valued at $513,000 after buying an additional 43 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PH shares. Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a report on Thursday, December 12th. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $725.06.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,200 shares of company stock worth $8,595,207. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 0.6 %

Shares of PH stock opened at $707.91 on Monday. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $718.44. The company has a 50 day moving average price of $666.84 and a 200 day moving average price of $630.03. The stock has a market capitalization of $91.12 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Equities research analysts predict that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Parker-Hannifin 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.