Nomura Asset Management Co. Ltd. Raises Stake in Parker-Hannifin Co. (NYSE:PH)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,962 shares of the industrial products company’s stock after acquiring an additional 162 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $24,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PH. Townsquare Capital LLC boosted its holdings in Parker-Hannifin by 14.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,275 shares of the industrial products company’s stock valued at $3,333,000 after purchasing an additional 685 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in Parker-Hannifin by 24.0% in the third quarter. CreativeOne Wealth LLC now owns 965 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 187 shares during the last quarter. Verition Fund Management LLC grew its position in Parker-Hannifin by 247.8% in the third quarter. Verition Fund Management LLC now owns 20,377 shares of the industrial products company’s stock worth $12,875,000 after acquiring an additional 14,519 shares during the period. Erste Asset Management GmbH acquired a new stake in Parker-Hannifin during the third quarter worth $1,898,000. Finally, FSA Wealth Management LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $83,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial raised their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Evercore ISI lifted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Down 4.1 %

NYSE PH opened at $600.78 on Friday. Parker-Hannifin Co. has a 52 week low of $492.71 and a 52 week high of $718.44. The firm has a 50 day moving average of $658.39 and a two-hundred day moving average of $654.58. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $77.33 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

About Parker-Hannifin

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.