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

Nomura Asset Management Co. Ltd. increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,962 shares of the industrial products company’s stock after buying an additional 162 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $24,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC increased its holdings in shares of Parker-Hannifin by 100,783.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 18,159 shares of the industrial products company’s stock valued at $11,550,000 after acquiring an additional 18,141 shares in the last quarter. Norges Bank purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $1,106,132,000. AssuredPartners Investment Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter valued at approximately $604,000. NEOS Investment Management LLC raised its holdings in shares of Parker-Hannifin by 24.6% in the fourth quarter. NEOS Investment Management LLC now owns 14,403 shares of the industrial products company’s stock worth $9,161,000 after buying an additional 2,846 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Parker-Hannifin by 23.8% during the fourth quarter. UniSuper Management Pty Ltd now owns 8,732 shares of the industrial products company’s stock worth $5,554,000 after buying an additional 1,681 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PH shares. Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. KeyCorp upped their target price on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays reduced their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $600.78 on Friday. The stock has a market capitalization of $77.33 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. The company’s fifty day moving average price is $658.39 and its 200 day moving average price is $654.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin Co. has a 1 year low of $492.71 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last released 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, equities research analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was 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.