Tokio Marine Asset Management Co. Ltd. Acquires 49 Shares of Parker-Hannifin Co. (NYSE:PH)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Parker-Hannifin Co. (NYSE:PH) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,611 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $2,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Metis Global Partners LLC grew its position in Parker-Hannifin by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 4,107 shares of the industrial products company’s stock worth $2,595,000 after acquiring an additional 74 shares during the last quarter. KBC Group NV grew its holdings in shares of Parker-Hannifin by 272.7% in the third quarter. KBC Group NV now owns 38,633 shares of the industrial products company’s stock worth $24,409,000 after purchasing an additional 28,268 shares during the last quarter. BCM Advisors LLC increased its stake in shares of Parker-Hannifin by 0.5% in the third quarter. BCM Advisors LLC now owns 3,971 shares of the industrial products company’s stock worth $2,533,000 after buying an additional 20 shares during the period. Schrum Private Wealth Management LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at $382,000. Finally, Kovack Advisors Inc. boosted its position in Parker-Hannifin by 30.5% during the 3rd quarter. Kovack Advisors Inc. now owns 590 shares of the industrial products company’s stock valued at $373,000 after buying an additional 138 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PH. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. KeyCorp lifted their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Barclays lifted their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Stock Performance

Shares of PH opened at $697.63 on Friday. Parker-Hannifin Co. has a 12 month low of $425.20 and a 12 month high of $711.60. The business’s fifty day simple moving average is $631.19 and its two-hundred day simple moving average is $573.08. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a market cap of $89.80 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $5.96 EPS. Research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by insiders.

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.