Parker-Hannifin Corporation (PH) Stake Boosted by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd grew its holdings in Parker-Hannifin Corporation (NYSE:PH) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,086 shares of the industrial products company’s stock after purchasing an additional 651 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Parker-Hannifin Corporation were worth $2,571,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its stake in Parker-Hannifin Corporation by 4.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 24,360 shares of the industrial products company’s stock worth $3,905,000 after acquiring an additional 1,055 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in Parker-Hannifin Corporation by 10.7% during the 1st quarter. Pictet Asset Management Ltd. now owns 80,537 shares of the industrial products company’s stock worth $12,912,000 after acquiring an additional 7,800 shares in the last quarter. Swiss National Bank lifted its stake in Parker-Hannifin Corporation by 26.7% during the 1st quarter. Swiss National Bank now owns 472,732 shares of the industrial products company’s stock worth $75,788,000 after acquiring an additional 99,700 shares in the last quarter. World Asset Management Inc lifted its stake in Parker-Hannifin Corporation by 9.7% during the 1st quarter. World Asset Management Inc now owns 14,170 shares of the industrial products company’s stock worth $2,272,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in Parker-Hannifin Corporation during the 1st quarter worth about $2,050,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on PH. Wolfe Research began coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price on the stock. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Robert W. Baird set a $163.00 target price on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $172.06.
In other news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark J. Hart sold 600 shares of Parker-Hannifin Corporation stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $160.72, for a total value of $96,432.00. Following the sale, the executive vice president now directly owns 5,851 shares in the company, valued at $940,372.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,749 shares of company stock worth $441,544. Corporate insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation (NYSE PH) opened at 166.51 on Wednesday. The stock has a market cap of $22.17 billion, a P/E ratio of 22.97 and a beta of 1.41. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50. The stock has a 50 day moving average price of $160.70 and a 200-day moving average price of $159.40.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, equities analysts expect that Parker-Hannifin Corporation will post $9.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
Parker-Hannifin Corporation Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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