Sumitomo Mitsui DS Asset Management Company Ltd Has $16.89 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,561 shares of the industrial products company’s stock after acquiring an additional 821 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Parker-Hannifin were worth $16,894,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $39,000. Finally, Hager Investment Management Services LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $44,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PH shares. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a research report on Thursday, December 12th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Mizuho upped their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $725.06.

Parker-Hannifin Stock Up 0.4 %

Shares of PH opened at $691.65 on Friday. The firm has a market cap of $89.03 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. 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 52 week low of $492.71 and a 52 week high of $718.44. The firm’s 50-day simple moving average is $666.12 and its 200 day simple moving average is $633.00.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin’s 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.