Mitsubishi UFJ Asset Management Co. Ltd. Buys 16,034 Shares of Parker-Hannifin Co. (NYSE:PH)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 209,123 shares of the industrial products company's stock after purchasing an additional 16,034 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Parker-Hannifin worth $133,371,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of 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 worth $6,903,962,000 after purchasing an additional 111,406 shares during the period. State Street Corp grew its position in shares of Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the period. Geode Capital Management LLC raised its holdings in shares of Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock worth $1,623,689,000 after purchasing an additional 29,408 shares during the period. Wellington Management Group LLP lifted its stake in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. 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 valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Citigroup started coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price target on the stock. KeyCorp upped their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Jefferies Financial Group lifted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Finally, Wells Fargo & Company increased their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $736.65.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $1.68 during mid-day trading on Tuesday, hitting $609.53. 679,408 shares of the company traded hands, compared to its average volume of 677,844. The stock has a fifty day moving average price of $655.77 and a 200-day moving average price of $655.35. The stock has a market cap of $78.46 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin Co. has a one year low of $492.71 and a one year high of $718.44. 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 (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. On average, equities analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's dividend payout ratio is currently 26.99%.

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.