Norinchukin Bank The Purchases 190 Shares of Parker-Hannifin Co. (NYSE:PH)

Norinchukin Bank The lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,157 shares of the industrial products company’s stock after buying an additional 190 shares during the period. Norinchukin Bank The’s holdings in Parker-Hannifin were worth $3,280,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after purchasing an additional 111,406 shares in the last quarter. Geode Capital Management LLC boosted its stake in Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company’s stock valued at $1,699,580,000 after purchasing an additional 99,261 shares during the last quarter. Invesco Ltd. increased its holdings in Parker-Hannifin by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after purchasing an additional 198,292 shares in the last quarter. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $1,106,132,000. Finally, Proficio Capital Partners LLC grew its holdings in Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock worth $725,229,000 after buying an additional 1,139,265 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

NYSE:PH opened at $561.21 on Friday. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year 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. The business has a 50 day moving average of $619.17 and a 200 day moving average of $648.56. The company has a market capitalization of $72.24 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.85 and a beta of 1.39.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wolfe Research downgraded shares of Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Barclays reduced their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Citigroup dropped their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus cut their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp lowered their target price on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $705.35.

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.