Nomura Asset Management Co. Ltd. Boosts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Nomura Asset Management Co. Ltd. raised its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,800 shares of the industrial products company's stock after buying an additional 2,495 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Parker-Hannifin were worth $23,883,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its stake in Parker-Hannifin by 2.8% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 2,140 shares of the industrial products company's stock valued at $1,082,000 after buying an additional 58 shares in the last quarter. ORG Partners LLC bought a new stake in Parker-Hannifin during the second quarter valued at approximately $46,000. Baader Bank Aktiengesellschaft purchased a new position in Parker-Hannifin in the 2nd quarter worth approximately $307,000. SteelPeak Wealth LLC increased its holdings in shares of Parker-Hannifin by 39.6% in the 2nd quarter. SteelPeak Wealth LLC now owns 938 shares of the industrial products company's stock worth $474,000 after buying an additional 266 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of Parker-Hannifin by 1.4% during the 2nd quarter. Leavell Investment Management Inc. now owns 3,846 shares of the industrial products company's stock valued at $1,945,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Argus increased their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Barclays increased their target price on Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Truist Financial boosted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $704.88.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction 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 transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company's stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 in the last quarter. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Performance

PH traded up $8.16 during midday trading on Wednesday, hitting $686.09. 702,027 shares of the company traded hands, compared to its average volume of 635,149. The company's 50-day moving average is $665.49 and its 200 day moving average is $593.46. Parker-Hannifin Co. has a 52 week low of $435.77 and a 52 week high of $712.42. The firm has a market capitalization of $88.31 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.81 and a beta of 1.44. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $5.96 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. Parker-Hannifin's dividend payout ratio is currently 29.45%.

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.